* Investors were cautious over the past week as they watched from afar the steep drops that dragged down stocks on world markets. The New York market drifted through the week without a single session in which the Dow Jones industrial average rose or fell by as much as 7 points.
The Dow closed Friday at 3,282.41, down 2.94 points from the week before. The NASDAQ composite index for the over-the-counter market fell 6.32, to 547.88, and the American Stock Exchange market value index lost .35, to 374.04.
* The economy continued to make like a pogo stick. Growth was better than first thought in the first quarter and personal income rose for the fourth month in a row. But orders for long-lasting, expensive goods plummeted and yet more people filed for unemployment benefits.