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News Summary: Apple sinks; stocks end week lower

The Associated Press

BAD APPLE: Apple's stock dropped 4 percent after the launch of the iPhone 5 in Beijing failed to draw the long lines of customers that showed up for previous versions.

DC WATCH: President Barack Obama and House Speaker John Boehner met Thursday to discuss a budget deal to avoid the "fiscal cliff." There were no signs of progress, however, and Boehner returned home to Ohio on Friday.

THE INDEXES: The Standard & Poor's 500 index fell 5.87 points to close at 1,413.58. The Dow Jones industrial average fell 35.71 points to 13,135.01. Both indexes ended the week with a loss.