TECH STOCKS: Mixed End For MarketsTECH STOCKS: Mixed End For Markets
The Dow industrials continued their advance Friday, while other major industries lost ground.
Stocks finished mixed Friday as blue-chip stocks rose to their highest levels in 19 months, but the S&P 500 index and Nasdaq ended lower. Trading was uneven due to the simultaneous expiration of several derivatives contracts.
The Dow Jones industrials rose 30.14 points, or 0.3%, to 10,278.22, their highest level since May 17, 2002 and the Dow's fourth consecutive winning week. The S&P 500 fell 0.52, or 0.05%, to end at 1,088.67. The Nasdaq Composite index fell 5.16 to close at 1,951.02, down 0.3%. For the week, the Dow industrials finished up 2.4%, the S&P 500 added 1.4%, and the Nasdaq gained 0.1%. The Nasdaq 100 tracking stock finished the day down 10 cents at $35.46, but gained 0.6 for the week%. The information 100 fell 1.20 points, or 0.4% to 304.17. It was down 0.41 points, or 0.1%, for the week.
Red Hat's share price rose $3.21, or 23%, to $17.49 one day after the Linux distributor posted strong quarterly sales and earnings.
Dow component Alcoa rose on a positive Morgan Stanley rating, but McDonald's and Procter & Gamble lost value.
Friday's trading was affected by "quadruple witching," the expiration of index futures and options as well as individual stock futures and options that occurs on one Friday each quarter and can trigger sudden moves in the market.
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