Weak Tech Earnings Pull Down US Stock Market

By: Associated Press
By: Associated Press

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Friday, July 19, 2013

Weak earnings from big technology companies sent the stock market lower in early trading.

The tech sector led the declines Friday after disappointing quarterly results from Google, Microsoft and a loss from chipmaker Advanced Micro Devices.

The Dow Jones industrial average was down 48 points to 15,500 shortly after the market opened. The broader S&P 500 index fell by four points to 1,685. The tech-heavy Nasdaq composite slid 25 points to 3,585.

The poor quarterly results pulled down the Dow and S&P 500 from all-time highs reached Thursday.

General Electric offered better earnings news.

GE posted higher second-quarter earnings and saw momentum building in the U.S. CEO Jeff Immelt said orders in the U.S. showed strong growth.

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