US markets
The Dow industrials' decline came as most major market indexes around the world finished with gains. Even so, the blue-chip index finished with a strong weekly advance after several days dominated by concerns over debt negotiations in Washington and Brussels. The Dow added 1.6% during the week, and is up 2.2% for July, falling just short of a multiyear high. Hurting stocks on Friday was a belief that U.S. debt talks would fail to come to a quick conclusion. The White House and Republicans in Congress were scrambling Sunday to get a deal to raise the U.S. federal borrowing limit before Asian markets open, with leaders in both parties expressing concern about a rocky market reaction to the apparent collapse Friday of talks between President Barack Obama and House Speaker John Boehner. While U.S. stocks fell Friday, global markets staged a broad advance after leaders from the bloc of euro-using nations agreed on a new financing package for Greece, as well as on steps to keep the debt crisis from spreading. Germany's DAX index rose 0.5%, while France's CAC 40 tacked on 0.7%. Hong Kong's Hang Seng index leapt 2.1%. Friday's U.S. trading was dominated by a handful of blue chips. Leading on the downside was Caterpillar, which sank $6.45 a share, or 5.8%, to $105.15 a share after the construction-equipment maker reported second-quarter earnings that surged 44%, but fell short of expectations.
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