Markets flat, end week lower

NEW YORK, Dec. 13 (UPI) -- U.S. markets closed flat Friday, but lower for the week with investors concerned about a possible Federal Reserve policy shift.

Fed Chairman Ben Bernanke let the cat out of the bag in June, suggesting a tapering off of the Fed's quantitative easing program was possible staring this year. That jolted markets, which sparked a rash of denials by Fed officials.

The issue has not gone away and last week's Labor Department announcement that the unemployment rate had dropped to 7 percent has been taken by many to be the decisive factor that will push the Fed into taking action.

Fed policy makers meet next week and will announce a policy decision on Wednesday, Dec. 18.

On Friday, the Dow Jones industrial average added 15.93 points, or 0.1 percent, to 15,755.36. The Standard & Poor's 500 gave up 0.18 points,,or 0.01 percent, to 1,775.32. The tech-heavy Nasdaq gained 2.57 points, or 0.06 percent, to 4,000.98.

On the New York Stock Exchange, 1,764 issues advanced while 1,308 declined on volume of 3 billion shares.

On foreign markets Japan's Nikkei 225 added 61.29 points, or 0.4 percent, to 15,403.11. In Europe, London's FTSE 100 gave up 5.29 points, or 0.08 percent, to 6,439.96.

The 10-year treasury note rose 5/32, yields falling to 2.866 percent.

The dollar fell 103.14 yen while falling against the euro, which traded at $1.374.

Gold was up $12.70 on the Comex division of the New York Mercantile Exchange at $1,237.60 per troy ounce. Silver added 23.7 cents or 1.22 percent to $19.69.

In after hours NYMEX trading, crude oil shed $1.06 to $96.44 per barrel.

On the Chicago Board of trade, corn for March delivery gave up 9 cents to $4.2525 per bushel. January soybeans added 2.75 to $13.265. March wheat lost 4.75 to $6.29.