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Stocks mixed amid earnings data

Traders work on the floor of the New

Traders work on the floor of the New York Stock Exchange on Thursday. Credit: AP Photo Richard Drew

Investors weren't impressed with the earnings news from big U.S. companies Friday.

Intel shares slumped after a weak revenue forecast, and General Electric dropped after its profit margins fell short. Capital One also fell after the bank's earnings missed expectations.

The Standard & Poor's 500 index slipped 0.39 percent, to 1,838.70. The Dow Jones industrial average rose 41.55 points to 16,458.56. The Nasdaq composite fell 0.50 percent to 4,197.58.

The S&P 500 index retreated from a record high close on Wednesday. It ended the week 0.5 percent lower and continued its lackluster start to January.

Still, many investors aren't ready to give up on the stock market's latest rally, which capped an exceptionally strong 2013 with a gain of almost 10 percent in the final three months of the year.

"Markets don't go straight up to the moon," said Doug Cote, chief market strategist at ING Investment Management. "This flatlining is the market regrouping . . . it's a healthy pause."

GE slumped 62 cents, or 2.28 percent, to $26.58 after profit margins in the company's industrial unit fell short of its own targets. Intel dropped 69 cents, or 2.60 percent, to $25.85 after its first-quarter revenue forecast disappointed Wall Street. -- AP

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