MARKET SNAPSHOT: Stocks End Week Higher; Dow At Record

By Anora Mahmudova and Barbara Kollmeyer, MarketWatch

NEW YORK (MarketWatch)--U.S. stocks ended Friday's volatile session mixed, but the Dow Jones Industrial Average eked out a gain and closed at a record high.

The main benchmarks ended an eventful week with gains, supported by favorable outcomes in two 'risk events' this week. The Federal Reserve reiterated its commitment to facilitating the U.S. economic recovery by maintaining its view on the timing of interest-rate hikes, and Scotland voted to remain part of the United Kingdom.

The S&P 500 (SPX) closed virtually flat at 2,010.41 and was 1.3% higher over the week. The Dow Jones Industrial Average (DJI) gained 14.07 points, or 0.1%, rising to 17,280.06, notching its 18th record close this year.

The Nasdaq Composite (RIXF) fell 13.64 points, or 0.3%, to 4,579.79.

Kate Warne, investment strategist at Edward Jones, said that, despite new highs, the market is not running ahead of fundamentals and warned of volatility on options expirations days.

BTIG lifted its S&P 500 forecast on Thursday, raising its year-end price target to 2,075-2,100, from 1,980, becoming the latest brokerage firm to do so.

Stocks to watch: Alibaba Group Holding Ltd. (BABA), which priced Thursday at $68, began trading on Friday and soared 36% to $92.92 . Alibaba's market capitalization is now at $228 billion, making it one of the largest U.S.-listed companies, with a larger market capitalization than Amazon. (AMZN)Alibaba IPO bulls are missing some red flags. Also read: Live blog: World's biggest IPO: Alibaba

Yahoo Inc. (YHOO) shares fell 2.5%, suggesting a big windfall from Alibaba's IPO was already priced in. Yahoo owns a large stake in Alibaba. Opinion: China's favorite sons will score big in Alibaba IPO

Oracle Corp. (ORCL) fell 3.8% on Thursday's news that Chief Executive Officer Larry Ellison is stepping down in favor of Safra Catz and Mark Hurd, who will serve as co-CEOs. Oracle's two CEOS may fuel investor concerns

Shares of Concur Technologies Inc. (CNQR) surged 18% on news Germany-based SAP AG (SAP) will buy the software group in a deal valued at $8.3 billion. The Wall Street Journal said the deal was the largest in SAP's history. U.S.-listed shares of SAP fell 4%.

Scotland rally: U.S. stock futures saw some benefit from news that Scotland will stay a part of the U.K. The FTSE 100 index rose 0.7%. Spanish stocks surged briefly on the heels of the Scottish referendum, but rumors surrounding a potential downgrade for France cut into those gains. The benchmark IBEX 35 index closed 0.1%.

The British pound(GBPUSD) pulled back to $1.6395 from a high of $1.6526 seen when Scottish votes began to come in. The Nikkei 225 index closed at nearly a seven-year high as the dollar reached a historical high against the yen.

Gold(GCZ4) slid toward a third weekly loss. Oil (CLV4) prices retreated.

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