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Stocks finished lower Friday, despite a last-ditch attempt to rally, as technology shares took yet another hit — this time it was weak earnings from PC maker Dell.
The Dow Jones Industrial Average shed 14.28, or about 0.1 percent, to close at 10,318.16. The S&P 500 lost 0.3 percent, while the Nasdaq dropped 0.5 percent.
The Dow has fallen for the last three days but managed to finish the week up about half a percent. This is its third straight up week. The Nasdaq lost about 1% and the S&P shed about 0.2 percent.
Another strong day for US currency also pressured stocks today. The dollar-stocks inverse trade has been in full force all week. Commodity prices declined, with oil settling at $76.72 a barrel and gold settling at $1,146.40, after setting a record above $1,150 earlier this week.
Caterpillar, GE and Cisco were the day's biggest decliners on the Dow. Merck and Pfizer rose.
Technology stocks are up 50 percent year-to-date as investors placed their bets on the recovery but that trade is starting to unwind. IT was the worst performer of 10 key S&P sectors this week, down 4.6 percent.
Health care, materials and consumer staples were the week's best-performing sectors.
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