Although stocks gave up their gains late in the day as President Bush announced he would undergo a colonoscopy today, the market showed some resilience, having risen despite news of more accounting problems, this time at Xerox.

"We know there are problems in some corporations in America. So this is more bad news, but not new bad news," said Arthur Hogan, chief market analyst at Jefferies & Co.

Investors also looked past a decline in consumer spending for May, largely because it was a smaller-than-expected decrease.

The Dow Jones industrial average closed down 26.66, or 0.3 percent, at 9,243.26, according to preliminary calculations. The Dow suffered its sixth straight weekly decline, declining 0.2 percent.

The broader market was mixed. The Nasdaq composite index rose 5.78, or 0.4 percent, to 1,464.98. The Standard & Poor's 500 index slipped 0.82, or 0.08 percent, to 989.82.

The Nasdaq and S&P managed to break their five-week losing stretch. The Nadaq had a weekly gain of 1.5 percent; the S&P, 0.3 percent.

But it's impossible to disguise what was a dismal second quarter, with stocks pummeled by bleak earnings prospects, fears of terrorism and a series of revelations about improper accounting. The indexes suffered double-digit percentage drops with the Nasdaq plunging 20.7 percent. The S&P had a loss of 13.8 percent; the Dow, a loss of 11.2 percent.