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Barchart
Barchart
Rich Asplund

Stocks Give Up Early Gains and Close Lower as Chip Stocks Retreat

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The S&P 500 Index ($SPX) (SPY) Friday closed down -0.65%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.18% and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.53%.

Stock indexes on Friday gave up early gains and closed moderately lower.  Stocks on Friday initially rallied, with the S&P 500 and Nasdaq 100 posting new record highs.  However, profit-taking and long liquidation in chip stocks weighed on the overall market, and prices turned lower. 

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