Now at 9,520, down 60 points
NEW YORK (AP) — Stocks are searching for direction as investors
hesitate to extend the market’s recent rally despite an improved
outlook from Intel.
Technology stocks are slightly higher after the world’s largest
maker of computer chips raised the top end of its sales
forecast.
The Intel news failed to spur other sectors higher, however, and
the broader market reverted to the back-and-forth pattern that has
defined trading for much of the past week.
Investors are worried that after sending stocks up more than 45
percent since early March, the market’s rally may have run its
course.
At midday, the Dow Jones industrial average is down 37 at 9,543.
The Standard & Poor’s 500 index is down 1 at 1,029, while the
tech-heavy Nasdaq composite index is up 5 at 2,033.
