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Economics

Stocks Stage a Last-Minute Comeback

Indexes clawed back into positive territory Friday after reports of a possible Ambac bailout. In focus next week: PPI, home sales, and Bernanke's testimony

The stock market seems to adopting the pattern of most pro basketball games, with the significant action confined to the very last moments of the contest.

Major market indexes closed higher Friday, led by a rebound in financial issues in the final hour of trading after CNBC reported that a bailout for bond issuer Ambac (ABK) was imminent. Earlier, stocks had extended losses from the previous session, with the Dow industrials down over 100 points as a shortage of major news limited buying interest ahead of next week's reports on wholesale inflation, durable goods orders, and home sales.