Stocks closed mixed Friday as Google's (GOOG) strong quarterly earnings lifted technology stocks but mounting concern over the foreclosure crisis and a revenue miss from General Electric (GE) weighed on financials and the broader market.

In addition to third-quarter earnings reports, the markets had to digest the latest inflation data, September retail sales and Federal Reserve Chairman Ben Bernanke's speech making the case for more stimulus to keep the tepid economic recovery on track.

The blue-chip Dow Jones Industrial Average ($INDU) lost 32 points, or 0.3%, to close at 11,062. GE led the blue-chip decliners after missing the Street's revenue estimate, while Dow components JPMorgan (JPM) and Bank of America (BAC) were part of a wider sell-off in financial stocks.

The tech-heavy Nasdaq Composite ($COMPX) finished up 33 points, or 1.4%, at 2,469, thanks to better-than-expected earnings from Google late Thursday. The broader S&P 500 ($INX) added 2 points, or 0.2%, at 1,176.

Third-quarter earnings are once again coming in better than Street forecasts, but then revenue growth also continues to be weak, says Kenny Polcari, managing director at interdealer broker ICAP. And although the market initially liked the idea of more Fed intervention, now that QE2 is all but certain it's starting to dawn on some investors that the economy is in worse shape than they thought.

For more on Polcari's view from the floor of the New York Stock Exchange (NYX), see the video below:



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mikfete58

Gold is climbing because of Ben Barnacles decision for QE. ANOTHER bubble created by Bush, but especially Obama that will burst just like the 2008 fiasco. The third bubbble is commercial real estate, and it's crashing as we speak. This will be multi-trillions of dollars!!! Other similar bubbles worldwide are also bursting, affecting currencies worldwide. Crash of the American dollar, the world's reserve currency, is imminent. Great Depression # 2 IS HERE.

October 18 2010 at 2:00 AM Report abuse +1 rate up rate down Reply
mikfete58

Gold is climbing because of Ben Barnacles decision for QE. ANOTHER bubble created by Bush, but especially Obama that will burst just like the 2008 fiasco. The third bubbble is commercial real estate, and it's crashing as we speak. This will be multi-trillions of dollars!!! Other similar bubbles worldwide are also bursting, affecting currencies worldwide. Crash of the American dollar, the world's reserve currency, is imminent. Great Depression # 2 IS HERE.

October 18 2010 at 2:00 AM Report abuse +1 rate up rate down Reply
mikfete58

Gold is climbing because of Ben Barnacles decision for QE. ANOTHER bubble created by Bush, but especially Obama that will burst just like the 2008 fiasco. The third bubbble is commercial real estate, and it's crashing as we speak. This will be multi-trillions of dollars!!! Other similar bubbles worldwide are also bursting, affecting currencies worldwide. Crash of the American dollar, the world's reserve currency, is imminent. Great Depression # 2 IS HERE.

October 18 2010 at 2:00 AM Report abuse +1 rate up rate down Reply
mikfete58

Gold is climbing because of Ben Barnacles decision for QE. ANOTHER bubble created by Bush, but especially Obama that will burst just like the 2008 fiasco. The third bubbble is commercial real estate, and it's crashing as we speak. This will be multi-trillions of dollars!!! Other similar bubbles worldwide are also bursting, affecting currencies worldwide. Crash of the American dollar, the world's reserve currency, is imminent. Great Depression # 2 IS HERE.

October 18 2010 at 2:00 AM Report abuse +1 rate up rate down Reply
mikfete58

Gold is climbing because of Ben Barnacles decision for QE. ANOTHER bubble created by Bush, but especially Obama that will burst just like the 2008 fiasco. The third bubbble is commercial real estate, and it's crashing as we speak. This will be multi-trillions of dollars!!! Other similar bubbles worldwide are also bursting, affecting currencies worldwide. Crash of the American dollar, the world's reserve currency, is imminent. Great Depression # 2 IS HERE.

October 18 2010 at 2:00 AM Report abuse +1 rate up rate down Reply
MSmailbox

I'd like to take this opportunity, to dipel any rumors that the President made an offer to me, on Friday, [to replace his current economic advisor]. I am presently involved in the takeover of a small regional bank. My biggest concern, is finding additional capital, in order to float that deal. I doubt whether he could offer me a salary, which would be in line with my expectations. That said, I'll be in my retreat this weekend, contemplating a clogged toilet.

October 15 2010 at 9:24 PM Report abuse rate up rate down Reply
pmurph2000

dgs755 is absolutely right. The Fed can't solve the problem because the Fed IS the problem. Quantitative Easing (printing money out of thin air, and creating more debt) is NOT the answer. The Fed has already thrown TRILLIONS of dollars at the economy (banks) and it is not working. Why would the banks want to loan money to people or businesses that might default on those loans when they can borrow money for free from the Fed and buy gov. bonds with a guaranteed return? Plus, the banks are hanging on to cash in case they have to write off all these bad mortgage notes. The Fed needs to be AUDITED, and dismantled.

October 15 2010 at 5:08 PM Report abuse +4 rate up rate down Reply
dgs755

Abolish the FED, the politicians are it's paid for puppets. Nothing will ever get better as long as this third party controls the money supply and interest rates. Nothing !

October 15 2010 at 4:46 PM Report abuse +7 rate up rate down Reply