What happened this week in the market and earnings and what does it mean for next week? Click on the video at left.
Techs rocked earnings, with three companies beating after the bell yesterday.
Googlebeat on both profit and revenue, and in fact logged its strongest sequential revenue growth in more than a year, as advertising began to improve. Shares rose more than 3 percent.
IBM topped expectations and raised its outlook as the company focused on higher-margin software and services. But shares fell as investors locked in some profits.
Advanced Micro Devices lost money during the quarter but beat on revenue. Shares fell more than 6 percent.
Most techs went down with the broader market, including IBM and AMD, which lost 5 percent and 7.3 percent, respectively. but Google rose 3.8 percent.
David Eiswert, of T. Rowe Price Associates, thinks large-cap tech stocks will reign in 2010.
"Mid to long-term, I think tech offers you innovation, it offers you globalization and those are really attractive, and at these valuations of an IBM, of a Google, especially the larger cap names, we think that's what next year's going to be about," Eiswert said on CNBC this week.
After its recent surge, gold marched in place this week, ending up just 0.3 percent at 1,051.50 an ounce. The dollar was still under pressure but eked out a 1-percent gain for the week against the euro.
In today's economic news: A gauge of consumer sentiment dropped to 69.4 in a mid-October reading from 73.5 at the end of September. Economists surveyed by Reuters had expected the measure to rise to 73.8.
And industrial production rose in September for a third straight month. The gauge rose 0.7 percent; economists surveyed had expected a more modest 0.2-percent increase.
Wal-Mart has thrown the gauntlet in its price war with Amazon : The discount giant slashed its price on new hardcovers, including Sarah Palin's "Going Rogue" and John Grisham's "Ford County," to $10 — and then $9. Amazon matched both price points. Shares of Wal-Mart gained 0.5 percent.
Microsoft was hit by pirates: A week before the official launch of its Windows 7 operating system, bootleg copies of the software were availableon the streets of China for less than $3 — a fraction of the list price, $320. Its shares lost 0.8 percent.
Volume was slightly below average, with 1.39 billion shares changing hands on the New York Stock Exchange. Decliners outpaced advancers, nearly 2 to 1.
— Reuters contributed to this report.
On Tap for Next Week:
MONDAY: Housing-market index; Earnings from Hasbro, Apple, Texas Instruments and Boston Scientific
TUESDAY: Housing starts; producer prices; Madoff sons hearing; report on college pricing; Fed's Plosser speaks; Earnings from Caterpillar, Coca-Cola, DuPont, Pfizer, United Technologies, Lockheed Martin, Regions Financial, SanDisk, Seagate, Yahoo
WEDNESDAY: Weekly mortgage apps; weekly crude inventories; Fed's beige book; Fed's Rosengren speaks; Earnings from Boeing, Eli Lilly, Wells Fargo, Altria, AMR, Continental, Morgan Stanley, USBancorp and eBay
THURSDAY: Weekly jobless claims; leading indicators; Fed's Rosengren, Lockhart and Dudley speak; Earnings from AT&T, Bristol-Myers, McDonald's, Merck, MMM, Travelers, UPS, Schering-Plough, Xerox, Amazon, AmEx, Braodcom and Capital One
FRIDAY: Fed chief Bernanke speaks; existing-home sales; Fed's Kohn speaks; Earnings from Microsoft, Honeywell and Ingersoll-Rand
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