Time Warner led the most actives list on the New York Stock Exchange on Friday, closing up 1/4 to 23 1/4, but the market headed south, losing 53.76 points Friday.

The Dow Jones Industrial Average hit its lowest level in nearly six months on weak employment data.

For the week, the Dow posted a net loss of 49.71.

The Big Board closed down 2.92 to 225.81, with the NASDAQ Composite Index ending off 6.70 to 571.63. The American Stock Exchange Index closed at 371.24, down 3.57.

Hollywood issues suffered from the downward pressure, with 50 losing ground, 21 making gains and 22 steady. For Friday, 46 closed down, 31 even and 16 up.

Capital Cities/ABC posted the largest loss at week’s end, falling 7 1/2 to close at 453. Lin Broadcasting lost 1 7/8 Friday, closing at 72.

Walt Disney was off 1 3/8 for the week, closing at 34 7/8. Cablevision Systems was down 1 1/8 and General Cinema was down 1 1/4 to end the week at 26 3 /8.

CBS was off 1 1/2 on Friday after Morgan Stanley & Co. lowered its rating on the stock at mid-week to a “hold” from a “buy.” It was up 1 3/8 for the week, however.

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