US stocks closed lower on Friday as investors remained jittery about the economy and the outlook for the technology sector.
The Dow Jones Industrial Average dropped 14 points to 10,318. The S&P500 Index is down 4 to 1,091 and the NASDAQ slipped 11 points to 2,146.
In economic news: The Labor Department said that jobless rates had increased in 29 American states and the District of Columbia in October, while rates fell in 13 states. In company news: DR Horton (NYSE:DHI) shares fell 15.35% to $10.37. The nation's second-largest homebuilder said its quarterly loss narrowed to $231.9 million in the fourth quarter end September 30.
Dell (NASDAQ:DELL) shares lost 9.96% to $14.29, after reporting a 54 percent drop in third-quarter net income to $337 million.
Intel Corp (NASDAQ:INTC) shares dropped 0.31% to $19.24, that was Friday’s steepest retreat in the Dow Jones Industrial Average, after being cut to “neutral” from “buy” at Bank of America, which said that computer-chip supply may overwhelm demand.
In some upside news, Gap (NYSE:GPS) shares rose 0.41% to $21.95, after the retailer said its quarterly profit surged 25%.
In the NASDAQ Top 100: Millicom International was the best performer which added 1.75% to $74.92. Making similar gains were Research In Motion and Expedia. The worst performer was Dell, while Illumina and Hologic also closed lower.
