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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel Weekly Recap: U.S. Markets - Aug 20th Use Article Email Facebook Digg Twitter Buzz Up! Share August 20, 2010 9:42 p.m. EST Topics: business, market and exchange, economy, business and finance, securities, United States Mitchell Jaworski - AHN News Reporter New York, NY, United States (AHN) - U.S. markets finished a rough week in mixed fashion on Friday as investors remained cautious following weak economic data in recent days. The Dow Jones Industrial average dipped 58 points or 0.6 percent, while the broader S&P 500 finished lower by 4 points or 0.4 percent The Nasdaq Composite held up a bit better, finishing just into positive territory. The semiconductor names helped lift the composite, adding 0.4 percent. Marvell Technologies (NSDQ: MRVL) led the group, adding 8.4 percent. Hewlett Packard did little to lift the tech sector, down 2.3 percent, despite posting quarterly earnings that were in-line with their pre-announced results. Crude oil fell 97 cents a barrel to settle at $73.82 on the New York Mercantile Exchange. Economic data dealt a blow to the markets nearly every day this week with results coming in below expectations for each report. The NY Empire Manufacturing Index, released on Monday, hit 7.1 in August, short of the 7.5 expected. The result turned out to be subtle compared to the Philly Fed Manufacturing Index reported on Friday, which showed a reading of negative 7.7, while a positive reading of 7.5 was expected. The news was not welcomed by investors as the manufacturing sector had been the main area of rebound in the economic recovery. Elsewhere, the Commerce Department said July housing starts totaled 546,000, which was short of the 555,000 expected. However, it was an improvement over the 537,000 starts in June. The Labor Department said new jobless claims for the week ended Aug. 14 totaled 500,000, up from the 488,000 a week prior. In a separate report, the agency said unemployment declined in 18 states during July, while rising in 14. The result is somewhat of a disappointment from recent months, which had seen unemployment decline in about 30 states on average. Next week’s market will see its share of economic data, starting with July existing home sales on Monday. Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License real time content for your website, business, digital signage network or publication. [ Close ] When publishing articles from AHN we require that you follow several simple rules and that you abide by our Terms and Conditions. You are free: To use and display the provided article text on a website or blog. 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