Mixed Day Yields Mixed Results

Dell performance rallies tech; Commerce Department gives bad news
By Nick McMaster,  Newser Staff
Posted May 30, 2008 3:30 PM CDT
Mixed Day Yields Mixed Results
Traders work on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo/Mark Lennihan, file)

Stocks ended mixed after a seesaw session today, with strong performance by tech and energy shares contrasting with bad news on consumer spending and incomes, MarketWatch reports. The Dow closed down 7.90 at 12,638.32. The Nasdaq gained 14.34 to 2,522.66, while the S&P 500 ticked up 2.12, ending at 1,400.38.

Computer manufacturer Dell rallied after posting a 3.7% earnings growth for the first quarter, beating expectations. Oil, poised to go back over $130 per barrel, pushed energy shares higher as investors continue to use commodities as a hedge against inflation. A Commerce Department report said consumer spending and incomes rose 0.2% in April, but the effect was quashed by a similar rise in prices. (More Dow Jones stories.)

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