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October 11, 2008 1:33:05 AM CDT

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Worries Keep Stocks Mixed

Posted Jun 9, 08 3:47 PM CDT in Business 

(Newser) – Markets were mixed today, with financials and tech stock prices falling while blue chips enjoyed a bounce after Friday’s precipitous drop, MarketWatch reports. The Dow gained 70.51, closing at 12,280.32. The Nasdaq fell 15.10 to close at 2,459.46, while the S&P 500 gained 1.08, settling at 1,361.76.

Investors were encouraged by a bounce in home sales, and by a $4 fall in oil prices. The tech sector's downturn caught some analysts off-guard. "The techs' weakness is a little surprising because tech is the one sector that's held up pretty well lately," one trader said. "It looks like people are getting out of whatever profitable positions they have to raise cash."

Sources: MarketWatch, Wall Street Journal, Bloomberg

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Apple CEO Steve Jobs announces the new Apple 3G iPhone at the Apple Worldwide Developers Conference in San Francisco, Monday, June 9, 2008.   (AP Photo/Paul Sakuma)
Traders work at the New York Stock Exchange on Monday, June 9, 2008 in New York.   (AP Photo/Jin Lee)
Businessmen walk in to the Roppongi Hills complex, an office/apartment skyscraper, beside the signboard of Lehman Brothers in Tokyo in this Thursday, April 3, 2008 photo.   (AP Photo/Katsumi Kasahara)
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