Stock averages managed to hold onto modest gains today thanks to bullish manufacturing data and upbeat earnings from First Solar ( FSLR ) plus a well-received IPO from The Container Store ( TCS ). Although disappointing earnings from Chevron ( CVX ) and American International Group ( AIG ) impacted early action the Dow Industrials and S&P 500 regained their footing and returned to their intra-day highs.
Nasdaq recovered eventually but will post its first weekly loss in five weeks as social-networking sites took a hit on Thursday's comments from Facebook's CFO regarding the loss of the fickle teen segment. Shares of MeetMe ( MEET ) and LinkedIn (LNKD) led the sector lower.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.