Wall Street wrapped up a volatile week with a down session Friday as conflicting news from the technology sector exacerbated investors’ uncertainty about earnings and sent the Nasdaq composite index to its lowest close in 14 months, the Associated Press reports. The major indexes finished the week mixed after swerving sharply session to session.
Chipmaker Advanced Micro Devices Inc. posted a disappointing earnings report, and computer maker Dell Inc. warned that its quarterly results would likewise fall short of expectations. Yet Microsoft Corp. beat analysts’ forecasts, and investors were cheered on the announcement of its stock buyback.
The Nasdaq dropped 19.03, or 0.93 percent, to 2,020.39 after plunging 41.29 Thursday. It was the lowest finish for the Nasdaq since May 17, 2005, when it closed at 2,004.15. The Dow Jones industrial average fell 59.72, or 0.55 percent, to 10,868.38, while the Standard & Poor’s 500 index lost 8.84, or 0.71 percent, to 1,240.29.
