Mixed week for US stocks after uneven earnings

Mixed corporate earnings produced varied results on Wall Street last week week, resulting in gains for the Nasdaq, losses for the Dow and a nearly flat S&P 500. The tech-rich Nasdaq Composite Index, buoyed by strong results from Apple and Facebook, advanced 17.41 points (0.39 per cent) on the week to 4,449.56 points. But the Dow Jones Industrial Average, weighed down by some disappointing results from blue-chip companies, dropped 139.61 (0.82 per cent) to 16,960.57. Splitting the difference was the S&P 500, the most broad-based of the three leading indices, which finished essentially flat at 1,978.34, up 0.12 of a point. Earnings took center stage given a relatively light week of US economic data that will pick up considerably this week. Market observers were positive on earnings season after the initial wave of reports. But there was greater hesitancy by week's end as more companies disappointed, according to AFP.