Apple, eBay stocks rise as Dow goes on wild ride
Two notable technology stocks swam against the tide Friday, with shares rising in the positive territory for most of the day.
Apple and eBay were two notable stocks to swim against the tide Friday, staying in positive territory throughout the mid-morning through the market's close. Meanwhile investors watched the Dow Jones Industrial Average take one of its most harrowing rides ever.
As the Dow whiplashed investors with its swings that ranged more than 1,000 points during the day, Apple and eBay took investors on an upward path.
Apple closed up 9.08 percent from Thursday, ending the day at $96.80 a share. It gained most of its traction in the final hour of the trading session and was one of the most actively traded stocks on the Nasdaq.
eBay, meanwhile, initially struggled to stay in positive territory, but succeeded and ended the day up 4.82 percent to close at $16.73 a share. The online auction giant was also one of the most actively traded stocks on the Nasdaq.
The CNET Tech Index also ended up for the day, climbing 19.05 points, or 1.67 percent, to close at 1158.14. The tech-heavy Nasdaq squeaked by with a nominal gain of 4.39 points, or 0.27 percent, to end the day at 1,649.51.
For the Dow, after its wild ride, it closed down 128 points, or 1.49 percent, to 8,451.19.
Market watchers attributed the Dow's wild swings in the final hours of trading to a meeting of the Group of Seven nations (G7), which met in Washington to attempt to develop a solution to the credit crunch, according to a report in MarketWatch.
The S&P 500 also closed down for the day, with a 10.70 point drop, or 1.18 percent, to 899.22.