Tech Snaps Nadaq's Streak; Dow Climbs 24

Amazon, Microsoft fall after weak earnings

By Nick McMaster, Newser Staff

Posted Jul 24, 2009 3:24 PM CDT

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Tech Snaps Nadaq's Streak; Dow Climbs 24 — Traders work on the floor of the New York Stock Exchange, Thursday, July 23, 2009 in New York. (AP Photo/Mary Altaffer)

The tech sector exerted downward pressure on stocks today, snapping the Nasdaq’s 12-day winning streak, the Wall Street Journal reports. Microsoft sank 8.9% after reporting a 29% drop in quarterly earnings, while Amazon fell 8.3% after also reporting a disappointing quarter. Alcoa, Pfizer, and Merck helped the Dow climb with modest advances. The Dow gained 23.95 points to close at 9,093.24. The Nasdaq lost 7.64, settling at 1,965.96, and the S&P 500 added 2.97, closing at 979.26.

For the week, the Dow gained 4%, the Nasdaq added 4.2%, and the S&P 500 rose 4.1%.

(More Dow Jones stories.)

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