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11:00, June 20, 2009 |
U.S. stocks traded mixed Friday while Microsoft and Apple led the Nasdaq composite index higher.
Shares of Microsoft Corp. rallied more than 3 percent after Goldman Sachs Group added the company to its "conviction buy list." Apple added more than 2 percent as the company releases a new iPhone on Friday.
The Dow Jones industrial average was dragged by energy stocks as oil prices retreated from near 72 U.S. dollars a barrel to 70.39 dollars. Oil prices have nearly doubled since February on signs of a potential economic recovery but the pace of the rally has sparked concerns prices are not well supported by fundamentals.
Investors have been in a cautious mood this week amid mounting concerns that the recent economic news has not been quite good enough to support the rally in stock markets since the middle of March.
Stocks are more volatile on Friday as a number of different options and futures contracts expire.
The Dow Jones industrial average was down 26.67 to 8,528.93 around midday. Standard & Poor's 500 index rose 0.56 points to 918.93 while Nasdaq composite index was up 15.55 points to 1,823.27.
Source: Xinhua
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