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A record high in crude oil and a consumer confidence reading that recalled the 1980s recession hampered the stock market Friday, leaving major indicators mixed but up for a week. Oil futures finished up $2.17 at a records settlement of $126.29, boosted by a report from Goldman Sachs commodity analysis, who said investors are underestimating the inevitability of further increases in crude and other raw materials. Other commodities followed crude higher on Friday.

The University of Michigan issued a surprisingly weak reading of its consumer confidence index, which hit its lowest point since June 1980. The session capped a week in which investors shifted some of their attention from slowdown in US economic growth to the question of when companies might gain increased flexibility to pass along commodity costs to consumers, prompting a full blown bout of inflation.

Next week we will keep our allocations at the same level: 50% in I Fund and 50% in C Fund.