Nasdaq turns negative as RIM slides

By IBTimes Staff Reporter | April 01 2010 2:08 PM

The Nasdaq turn negative on Thursday, weighed down by a drop in Research In Motion Ltd , but the Dow and the S&P 500 clung to modest gains on optimism over stronger-than-expected manufacturing and jobs data.

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Research In Motion, the BlackBerry maker, posted quarterly profit and sales that lagged expectations, dampening optimism that propelled the Nasdaq to 19-month closing highs in recent days.

The Dow Jones industrial average <.DJI> gained 46.63 points, or 0.43 percent, to 10,903.26. The Standard & Poor's 500 Index <.SPX> rose 5.53 points, or 0.47 percent, to 1,174.96. The Nasdaq Composite Index <.IXIC> dropped 3.81 points, or 0.16 percent, to 2,394.15.

(Reporting by Ellis Mnyandu; editing by Jeffrey Benkoe)

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