Market surges to close week

June 13, 2008 5:51:31 PM PDT
Stocks rose for a second straight session. However, for the week the key averages were mixed. The Dow gained 165 points to 12,307. It was up less than 1 percent for the week. The S&P advanced 20 points to 1,360, virtually unchanged for the week. And the Nasdaq composite surged 50 points to 2,454, down for the week. Advancing issues topped decliners by an 11 to 4 margin. NYSE volume came to 3.9 billion shares, while Nasdaq volume was 2 billion shares. Earlier, the government reported that the May Consumer Price Index rose 0.6 percent. The core rate, excluding food and energy, surged 0.2 percent. Oil prices dropped $1.49 to $135.25 on the New York Mercantile Exchange. (Copyright 2008 by The Associated Press. All Rights Reserved.) AP-NY-06-13-08 1614EDT COPY