By Annelena Lobb (WSJ)

Broad stock indexes ended Friday with tepid gains, after a surge in crude-oil prices, a report revealing more consumer anxiety, and disappointing earnings from Microsoft. The dollar closed higher for a second day in a row.

Some market observers, after Thursday's shifts in the markets, remain skeptical that any fundamental change in the landscape is unfolding. Credit spreads remain wide, the housing market is overflowing with inventory, making further falls in home values likely, and the stock surge yesterday couldn't be sustained into the close, as key market indexes closed well off their highs for the session.

"The shift in sentiment to creeping bullishness has been smaller than people suggest," said Chip Hanlon, president of Delta Global Advisors.

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