Friday Slide Slams ETFs, Wipes Out Gains (Daily ETF Wrap-Up)

Market Wrap-Up Stocks closed down Friday, with energy prices and a broad slide in equities weighing on many exchange-traded funds, even as top-line growth brightened earnings reports. The Dow Jones Industrial Average dropped 108 points to 9972. The Nasdaq finished down 11 at 2154, and the S&P 500 ended down 13 at 1080. Microsoft ( MSFT ) reported an 18% drop in fiscal first-quarter earnings, but the results easily topped forecasts and the software giant's stock surged. Honeywell International ( HON ) gained after it said third-quarter earnings fell 15% on continued weakness in sales, especially to commercial airlines, and the company lowered its 2009 revenue guidance. As of 4:04 p.m., crude oil futures traded on the Nymex were down 53 cents at $79.97 a barrel. For a detailed rundown on Friday’s trading session see our market... [read full story]                    

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