S&P 500 down on Friday, 1.7% up for the week

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Source: Dukascopy Bank SA
S&P 500 index edged down on Friday, reflecting growing concerns over Spain. US benchmark dropped 0.22% or 2.86 points and closed at 1,317.82. Spanish borrowing costs surged to almost 6.3% after Spain's autonomous region Catalonia asked for a government financial aid. Nevertheless index managed to recover on weekly basis and reported a 1.7% gain, the first weekly advance since April. Data storage solutions provider Sandisk Corp posted the biggest improvement and added 4.6%. US markets will be closed on Monday for the Memorial Day holiday. 


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