US: Dow ends higher but Wall Street posts 2nd straight weekly drop on tech slide

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[NEW YORK] The Nasdaq slid and the S&P 500 closed little changed on Friday as early gains in technology and growth names faded, with each of the three major Wall Street averages posting their second straight weekly decline. Read more at The Business Times.

Growth stocks, which include many tech names along with others that have benefited from government-imposed lockdowns such as Amazon.com Inc, fell 0.26 per cent while value names edged up 0.54 per cent. Amazon fell 1.86 per cent.

The Dow Jones Industrial Average closed up 131.06 points or 0.5 per cent, to 27,665.64. The S&P 500 gained 1.78 points or 0.1 per cent to 3,340.97 and the Nasdaq Composite dropped 66.05 points or 0.6 per cent to 10,853.55. Gains in Home Depot Inc and Caterpillar up 1.3 per cent and 2.7 per cent respectively, led the Dow industrials to close up.

 

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