Stocks End Down On Friday, But Log Weekly Gains

U.S. stocks finished donw on Friday after volatile day of trade but logs weekly gains. The Dow Jones Industrial Average shed 28.28 points, or 0.17%, to 16,302.77, gaining 1.5% over the past five trading days. The S&P 500 fell 5.49 points, or 0.29%, at 1,866.52. rising 1.4% for the week. The Nasdaq Composite lost 42.50 points, or 0.98%, at 4,276.79, rising 0.7% over the week.

Visa Inc. (V) shares rose 2.6% in trading on Friday after a federal appeals court upheld a rule allowing banks to charge retailers as much as 21 cents to process debit-card transactions.

A Federal Reserve rule allowing banks to charge retailers 21 cents to process debit-card transactions has been upheld by a federal appeals panel, a blow to big merchants such as Wal-Mart Stores Inc. and Target Corp.

L.A.’s jobs picture continued to brighten in February as employers added nearly 28,000 jobs to their payrolls and the jobless rate fell to 8.7 percent, according to state figures released Friday.

WellPoint Inc. (WLP:US), the second-largest U.S. health insurer in the U.S., raised its 2014 earnings forecast as the company adds customers through Obamacare.

The Federal Reserve’s annual stress tests found 29 of the 30 largest U.S. banks could withstand a deep recession and still pay dividends, fueling speculation about which firms will win approval next week to raise payouts.

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