Dow's best week since '04

October 17, 2008

Blue chips surged 4.75 percent in its strongest weekly gain in 4-1/2 years, but floundered on Friday as weak housing and consumer sentiment data added to recession fears. In volatile Friday action the Dow suffered a 127-point loss to 8,852. The S&P 500 lost 5 points to 940. The Nasdaq lost 6 points to 1,711. Crude oil jumped $2.00 to $71.85 a barrel. Conway Gittens reports from New York.