US Stocks end higher for the day, lower for the week

NEW YORK (CNNMoney) -- Despite posting decent gains during Friday's session, stocks finished a choppy week of trading lower, as investors remained on edge in the wake of a massive earthquake and tsunami in Japan that have added to concerns over conflict in North Africa and the Middle East.

The Dow and S&P 500 fell more than 1%, while the Nasdaq sank almost 2.5% during the week.

Despite the concerns, stocks rebounded Friday from the previous day's sharp sell-off.

The Dow Jones industrial average (INDU) rose 60 points, or 0.5%, The S&P 500 (SPX) rose 9 points, or 0.7%,The Nasdaq Composite (COMP) added 15 points, or 0.5%.

"There are a lot of stories hovering over the marketplace, but investors have to think about how much these factors will affect U.S. GDP growth, and it's not much in reality," said Steve Goldman, market strategist at Weeden & Co.

He added that trading will be choppy as investors continue to digest headline risks, but stocks will likely approach their recent highs again soon.

"There's a lot of uncertainty we have to deal with, but markets have already given back about half the gains made this year," Goldman noted.

Plus, the rebuilding effort in Japan effort could have a positive impact on the global economy, said Phil Orlando, chief equity market strategist at Federated Investors.

"The catastrophe and the loss of so many lives is tragic, but from an economic standpoint, this means that the Japanese government needs to spend a lot of money immediately to rebuild the country," Orlando said. "That forced spending on infrastructure will not just help stimulate the Japanese economy, but others as well."

Oil for April delivery fell $1.54 to settle at $101.16 a barrel

Gold futures for April delivery rose $9.30 to $1,421.80 an ounce, recovering from an earlier slump.