Citi and IBM support Dow, tech hurts Nasdaq

By Herbert Lash NEW YORK (Reuters) - Favorable results from No. 1 U.S. bank Citigroup and technology leader IBM drove the Dow higher on Friday, but the Nasdaq fell on disappointing results from tech icons Google and Microsoft. Oil prices fell for a fourth straight day as tensions eased between Iran and the West and on growing concerns that a sluggish economy will slash demand pushed oil lower. Oil slipped below $129 a barrel, extending a slide that has cut prices nearly 13 percent from last week's record peak. The dollar rose against major currencies after Citigroup's less-than-expected quarterly loss eased investors' grim outlook for the U.S. financial sector. U.S. and euro zone government debt prices fell as Citigroup's results caused investors to unwind their recent flight to safety. Citigroup's less-than-expected $2.5... [read full story]