Friday Stocks Search for Direction

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.

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