This Week’s Stock Market Can’t Find Direction
Stocks are mixed on Wall Street Friday after a drop in U.S. consumer prices and a strong survey of Chinese manufacturing failed to excite investors.
The Dow Jones industrial average is down 6 points after 3 hours of trading. The Standard & Poor’s 500 index has edged down 2 points.
So far, tech stocks are the weakest. The Nasdaq composite is down 12 points.
Adobe, which makes Photoshop photo editing software, jumped 7 percent after the company reported earnings that beat Wall Street’s expectations. Analysts are optimistic about the potential of the company’s new subscription service to increase revenue.
Best Buy dropped 12 percent after the struggling electronics retailer and its former chairman agreed to give the executive more time to assemble investors to make a bid for the company.