Intel, GE send S&P, Nasdaq down; Dow gains
NEW YORK (Reuters) — The S&P 500 and Nasdaq declined Friday as results from Intel and General Electric were the latest to dampen the view on fourth-quarter earnings.
Volatility picked up late in the session, thanks in part to selling related to options expiration, analysts said. Bucking the trend, the Dow ended higher — helped by a rally in American Express Co and Visa. AmEx jumped 3.6 percent to $90.97 a day after reporting quarterly results.
Intel's stock slid 2.6 percent to $25.85 and was among the top weights on each of the three major U.S. stock indexes, a day after the chipmaker gave a lukewarm forecast for first-quarter revenue and posted fourth-quarter earnings that missed expectations by a penny
General Electric shares dropped 2.3 percent to $26.58 after the conglomerate reported disappointing 2013 profit margins.