Tech shares lift Nasdaq, banks drag
Stocks rose on Friday as technology and pharmaceutical shares advanced, more than offseting bleak corporate outlooks and fears of inflation.
The Nasdaq briefly added more than 1 percent, but the S&P 500 was near break even as bank shares extended losses.
IBM
The Dow Jones industrial average <.DJI> gained 20.23 points, or 0.27 percent, to 7,421.03. The Standard & Poor's 500 Index <.SPX> dropped 0.62 points, or 0.08 percent, to 783.42. The Nasdaq Composite Index <.IXIC> rose 9.95 points, or 0.67 percent, to 1,493.43.
(Reporting by Rodrigo Campos)
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