Stocks ended the week on a sour note, with the tech-intensive Nasdaq dragged by high-profile losses into a distribution day.
The S&P 500 added 0.2%, while the Dow Jones industrial average ceded a nano-smidge.
The Nasdaq, weighed by losses in Google (GOOG) (off 2%), Microsoft (MSFT) (off 11%) and Intuitive Surgical (ISRG) (off 7%) fell 0.7%.
Volume in the stock market today rose 3% on the Nasdaq and 26% on the NYSE, according to preliminary data.
Taiwanese chipmaker ChipMOS Technologies (IMOS) dived 7% in fast trade. This was the thinly traded stock's third straight loss. Wednesday saw ChipMOS fall 3% in low volume. ChipMOS sank 1% Thursday, but volume climbed 40% above its average pace as the stock slid below its 50-day line. Friday's loss pushed volume to three times normal. ChipMOS had peaked July 1 at 20.68, about 20% above its 13.68 buy point from a deep cup-with-handle base.
But Chipotle Mexican Grill (CMG) gapped up and screamed 8% after the fast-casual Mexican-restaurant chain beat estimates in its Q2 report. The gain, which carried torrid volume, pushed Chipotle 8% above its 379.25 buy point. That entry is from a six-week shallow pattern that may also be interpreted as the handle of a large, deep base.
Whirlpool (WHR) jumped 8% and cleared its 50-day line as volume surged to 2-1/2 times its norm. The appliance maker said Q2 profit rose 53%, beating consensus estimates. The company also raised its 2013 outlook.
Source: http://news.investors.com/investing-stock-market-today/071913-664453-nasdaq-dragged-lower.htm
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