This fourth trading week of 2012 comes to a close with investors sending stocks lower following a disappointing GDP report.

Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for Friday January 27, 2012.

The S&P 500 and the Dow Jones Industrial Average were little changed for the week, while the Nasdaq was higher this week.

Crude oil futures are higher this week, trading around $99.68 per barrel on Friday afternoon.

Gold futures are higher this week, to around $1738.09 an ounce.

In notable economic news this week, the Commerce Department said the economy grew at a 2.8 percent annual rate in the final three months of last year, while economists had expected 3 percent growth.

In corporate news this week, Halliburton (HAL) announced income for the fourth quarter of $921 million, or $1 per diluted share, excluding a $15 million charge, after-tax, or $0.02 per diluted share, for an environmental-related matter.

Verizon Communications (VZ) announced on Tuesday that it lost $2.02 billion, or 71 cents per share, in the last quarter of 2011, versus a profit of $2.64 billion, or 93 cents per share, in the same period last year. Revenue rose 7.7 percent to $28.4 billion versus $26.4 billion a year ago. The results met analyst expectations. The loss was attributed to a one time pension charge and expenses related to the launch of the Apple (AAPL) iPhone on the company's wireless network.

Corning (GLW) announced on Wednesday that its profit dropped 53 percent in the fourth quarter but revenue rose 7 percent on stronger sales of glass for flat-screens. Net income was $491 million, or 31 cents per share, versus $1.04 billion, or 66 cents per share, a year earlier. Revenue increased 7 percent to $1.89 billion from $1.77 billion. Margins were hurt, however, as the firm lowered glass prices to help struggling LCD panel manufacturers.

3M (MMM) announced higher than expected quarterly earnings due to strong demand from industrial and transport markets that was able to offset weak demand from its consumer electronics units. Earnings were $954 million, or $1.35 per share, versus $928 million, or $1.28 per share, in the same period last year. Analysts had expected $1.31 per share. Revenues increased to $7.1 billion, which met analyst estimates.