Dow Falls, But Google Pushes Nasdaq Higher
Better than expected earnings at Internet search giant Google have helped technology stocks to a strong finish for the week. The tech-dominated Nasdaq composite index is up by more than 1 percent, a better showing than other big market indexes.
A disappointing drop in revenue at General Electric and worries about how banks like JP Morgan Chase and Bank of America have handled foreclosures have sent the Dow Jones industrial average lower. Stocks rose in early trading after Federal Reserve chairman Ben Bernanke reiterated that the central bank is ready to do more to stimulate the economy.
The Dow fell 31, or 0.3 percent, to 11,062. The Standard & Poor's 500 index rose 2, or 0.2 percent, to 1,176, while the Nasdaq is up 33, or 1.4 percent, at 2,468.
Losing issues were ahead of gainers by 3 to 2 on the New York Stock Exchange. Volume came to 1.4 billion shares.