Weak tech earnings pull down US stock market

AP News
Posted: Jul 19, 2013 9:48 AM
Weak tech earnings pull down US stock market

NEW YORK (AP) — 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.