Mixed Note Caps Big Week

Dow sees modest gains, Nasdaq loses; all indices post weekly gains

By Nick McMaster, Newser Staff

Posted Jul 18, 2008 3:23 PM CDT

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Mixed Note Caps Big Week — Advanced Micro Devices CEO Hector Ruiz leaves the stage during a conference in San Francisco, Nov. 12, 2007. (AP Photo/Paul Sakuma)

The markets were mixed today as poor results across the tech sector and from Merrill Lynch put the brakes on a two-day rally, MarketWatch reports. Good news from Citigroup kept the Dow buoyant, and it closed up 49.91, at 11,496.57. The tech-heavy Nasdaq took a 29.52-point dive, settling at 2,282.78, while the S&P 500 gained 0.36 to1,260.68.

AMD, Google and Microsoft all fell over 5% after disappointing second-quarter earnings. Merrill Lynch was off 2.9%, but did not drag all financial stocks down due to good reports elsewhere. Oil moved less than a dollar, hovering around $129 a barrel.

For the week, the Dow gained 3.5%, the Nasdaq 2%, and the S&P 500 1.7%.

(More Dow Jones stories.)

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