Stocks Mixed on Retail News

Microsoft falls 4.5% despite strong profits

(NEWSER) - Stocks saw losses today as investors proved unmoved by the striking 5.7% jump in GDP for the second quarter. Microsoft led a broad decline in tech stocks despite reporting strong growth in quarterly profits, the Wall Street Journal reports.

• The Dow fell 53.13 points to close at 10,067.33.
• The Nasdaq lost 31.65, closing at 2,147.35.
• The S&P 500 dropped 10.66 to settle at 1,073.87.

Rally extends into 4th day on Roubini comments, tech optimism

(NEWSER) - Stocks gained today as the tech sector continued to inspire and economist Nouriel Roubini predicted a recovery in late 2009, the Wall Street Journal reports. Though the looming bankruptcy of CIT Group depressed stocks most of the day, financials were able to trim losses before the close. The Dow rose 95.61, closing at 8,711.82. The Nasdaq gained 22.13, settling at 1,885.03, and the S&P 500 added 8.06, to 940.74 More»

Tech leads declines, Dow falls from triple-digit gain

(NEWSER) - Stocks swung back to losses as optimism from last week’s rally faded today, the Wall Street Journal reports. Investors treated last week’s announcements that many troubled financial institutions ran operating profits in the first two months of 2009—ignoring “toxic securities” on their balance sheets—with skepticism. The Dow closed down 7.01 at 7,216.97. The Nasdaq fell 27.48 to 1,404.02, and the S&P 500 lost 2.66, closing at 753.89. More»

Jobless claims reach 7-year high

(NEWSER) - Jobless claims rose to a 7-year high last week, but that didn’t appear to move the needle for stocks, which barely budged at today's open. The Dow crept up 66 points, while the S&P and Nasdaq rose 0.9% and 0.4% respectively. A staggering 32,000 filed new jobless claims last week, to a seasonally adjusted 516,000, a much bleaker number than analysts anticipated. More»

Traders worry non-financial stocks may still feel recession's bite

(NEWSER) - Stocks closed lower today after an earlier rally died down as worries about consumer-discretionary and tech stocks overcame investors’ faith in global actions to quell the credit crisis, the Wall Street Journal reports. The Dow, up nearly 400 early, ended off 76.62, to 9,310.99. The Nasdaq, especially hard hit, lost 65.24 to close at 1,779.01. The S&P 500 dropped 5.35 to 998.00. More»