Apple and eBay were two notable stocks to swim against the tide Friday, staying in positive territory throughout the mid-morning through the market's close. Meanwhile investors watched the Dow Jones Industrial Average take one of its most harrowing rides ever.
As the Dow whiplashed investors with its swings that ranged more than 1,000 points during the day, Apple and eBay took investors on an upward path.
Apple intraday trading
(Credit: Yahoo Finance)Apple closed up 9.08 percent from Thursday, ending the day at $96.80 a share. It gained most of its traction in the final hour of the trading session and was one of the most actively traded stocks on the Nasdaq.
eBay, meanwhile, initially struggled to stay in positive territory, but succeeded and ended the day up 4.82 percent to close at $16.73 a share. The online auction giant was also one of the most actively traded stocks on the Nasdaq.
eBay intraday trading
(Credit: Yahoo Finance)The CNET Tech Index also ended up for the day, climbing 19.05 points, or 1.67 percent, to close at 1158.14. The tech-heavy Nasdaq squeaked by with a nominal gain of 4.39 points, or 0.27 percent, to end the day at 1,649.51.
For the Dow, after its wild ride, it closed down 128 points, or 1.49 percent, to 8,451.19.
Market watchers attributed the Dow's wild swings in the final hours of trading to a meeting of the Group of Seven nations (G7), which met in Washington to attempt to develop a solution to the credit crunch, according to a report in MarketWatch.
Dow Jones Industrial Average intraday trading
(Credit: Yahoo Finance)The S&P 500 also closed down for the day, with a 10.70 point drop, or 1.18 percent, to 899.22.
(Credit:
Susan Dove/ CNET News)
Yahoo fell into the $12-a-share-range Thursday, marking the second consecutive day its stock tumbled to a new low.
The Internet company dipped as low as $12.47 a share during intraday trading, before ending the day at $12.65 a share--down just over 8 percent.
Each time Yahoo's stock drops into a new dollar range, analysts have noted that the border crossing serves as a psychological landmark for investors.
Yahoo falls into $12 range
(Credit: Yahoo Finance)On Wednesday day, Yahoo crossed the $13-a-share threshold. Fear and loathing seem to have taken hold of its stock, with analysts panning the company's prospects in display advertising, given the shaky economy, in addition to a bleak performance on Wall Street.
In the last two hours of trading, Yahoo's shares crossed into the $12 range and quickly plummeted as the broader markets slumped.
The Dow Jones Industrial Average also hit a new psychological mark Thursday, falling below 9,000 for the first time in five years. The Dow ended the day at 8,579.19, down a whopping 678.91 points, or 7.3 percent.
The Nasdaq dropped nearly 5.5 percent, or 95.21 points, to close at 1,645.12, while the S&P 500 closed down 7.6 percent, or 75.02 points, to finish at 909.92.
And in the tech world, the CNET Tech Index, about 30 minutes before the close, was trading down 2.2 percent, or 26.41 points at 1,162.74.
Click here for ongoing coverage from CNET News, 'Tough times for tech'
Tech stocks and the broader markets received a mild case of whiplash Wednesday, as rate cuts by the Federal Reserve and other central banks around the world prompted a brief run up before stocks gave way to yet another consecutive day of losses.
The CNET Tech Index, which includes the likes of Apple, Cisco, eBay, and others, closed down 15.10 points to end the day at 1,189.15, off 1.25 percent.
The broader markets also posted declines, with the Dow Jones Industrial Average giving up 189.01 points, or 2 percent, to end the day at 9,258.10. The tech-heavy Nasdaq fared a little better, with only a 0.83 percent decline, or 14.55 points, to close at 1,740.33.
Investors remained skittish despite the central banks cutting interest rates. There were hopes that the cuts would instill confidence in consumers and businesses to prompt spending and jump-start the economy.
Some of the companies that were particularly hard hit include Yahoo, which fell as low as $13.20 a share in intraday trading--a level it hadn't reached in five years. The Internet search pioneer closed at $13.76 a share, down 5.62 percent, during the regular trading session.
Dell and cable giant Comcast were also down during the regular trading session, but a few companies were able to post and retain their gains on Wall Street.
Apple gained 6.42 percent to finish the day at $89.79 a share, while chip giant Intel rose 4.17 percent to close at $16.25 a share.
Credit: Susan Dove/CNET News
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