<p>U.S. stocks closed flat on Friday even though investors welcomed Spain's efforts to seek a bailout and cheered Apple's newest iPhone that went on sale today, driving its shares to a record high.</p><br /><p>Apple Inc, the world's most valuable public company in terms of market capitalization, jumped to an all-time high of $705.07 (USD) as customers lined up to buy the iPhone 5. </p><br /><p>News from Spain helped lift stocks after the debt-laden country said it was considering freezing pensions and speeding up a planned rise in the retirement age as it raced to cut spending and meet conditions of an expected international sovereign aid package.</p><br /><p>The moves, taken with the European Central Bank's efforts to spur growth in the euro zone and the Fed's recent announcement of a third round of quantitative easing, continued to underpin gains.</p><br /><p>This week, though, the market's action has been muted, with the S&P 500 barely moving 0.6 percent in either direction daily.</p><br /><p>Earlier, the S&P 500 hit an intraday high of 1,467.07, while the Nasdaq reached a session high of 3,196.93.</p><br /><p>Volume totaled 7.92 billion shares traded on the New York Stock Exchange, the Nasdaq and the Amex.</p><br /><p>Advancers beat decliners on both the NYSE and the Nasdaq by a ratio of 3 to 2. On the NYSE, there were 303 stocks hitting new highs and eight setting new lows. On the Nasdaq, 191 stocks touched new highs while 28 stocks reached new lows.</p><br /><p>The Dow Jones industrial average slipped 17.46 points, or 0.13 percent, to close at 13,579.47. The Standard & Poor's 500 Index dipped just 0.11 of a point, or 0.01 percent, to finish at 1,460.15. The Nasdaq Composite Index rose 4.00 points, or 0.13 percent, to close at 3,179.96.</p>
