The S&P 500 rises; Dow is down, led by IBM

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Associated Press

Posted on April 19, 2013 at 10:02 AM

Updated Friday, Apr 19 at 10:03 AM

NEW YORK (AP) — The broad Standard & Poor's 500 index opened higher early Friday, capping a volatile in stock markets.

Stocks of technology companies were the big movers shortly after the market opened. Several industry bellwethers reported quarterly earnings late Thursday, including IBM and Google.

The Standard & Poor's 500 index rose 2 points to 1,543. The index has fallen three out of the last four days and is down 3 percent this week.

The Dow Jones industrial average fell 51 points to 14,483. It was led by a seven percent fall in the stock of IBM, which reported a decline in quarterly earnings and revenue late Thursday. The Dow is down 3 percent for the week.

The Nasdaq was up six points to 3,172.

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