Dow Ends Down 83, Nasdaq Down 41

0

Wall Street retreated Thursday as mixed earnings news and rising oil prices prompted investors to take profits from a sharp rally in the prior session, the Associated Press reports. A disappointing forecast from Intel Corp. dragged on the Nasdaq composite index.

Better-than-expected results from Apple Computer Inc. and Motorola Inc. countered a hefty loss at Ford Motor Co. But investors worried about a slowdown in tech spending were rattled by a steep earnings drop at Intel, which gave no indications that conditions would improve in the second half of the year.

According to preliminary calculations, the Dow declined 83.32, or 0.76 percent, to 10,928.10. Broader stock indicators also fell. The Standard & Poor’s 500 index dropped 10.68, or 0.85 percent, to 1,249.13, and the technology-laden Nasdaq lost 41.29, or 1.98 percent, to 2,039.42.


Read the full Associated Press story

.

No posts to display