The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes. "Which tells you, this earnings recovery that is expected in 2017, a good chunk of it is already baked into the market." For the week, the Dow rose 1.3 percent, the S&P 500 gained 1 percent and the Nasdaq advanced 1.9 percent. Microsoft rose 2.3 percent to $65.78, while Intel gained 1.1 percent to $37.98 after both reported quarterly results above Wall Street expectations. The S&P 500 posted 27 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 116 new highs and 26 new lows.

Source: The Edge Markets January 28, 2017 00:50 UTC