Market Summary 08 Feb 2008 - Investorguide

...quote from http://www.investorguide.com/ Wall Street ended a rough week mixed Friday, as ongoing credit market woes dragged down the financial sector and broader economic issues continued to weigh on investors. The Dow Jones industrial average, which had climbed into positive territory in early trading, fell more than 60 points. The tech-heavy Nasdaq was up 12 points, thanks to Amazon.com's stock buyback plan. Amazon.com (AMZN: Charts, News, Offers) said its board approved a plan to buy back $1 billion of the company's stock over the next two years. The company also said it was setting up a program to buy back debt. Shares jumped 3%. The financial sector continued to slow down the market amid continued uncertainty over the impact of the credit market crisis. Cognizant Technology Solutions (CTSH: Charts, News, Offers) reported higher fourth-quarter profit that beat expectations. McDonald's (MCD: Charts, News, Offers) said same-store sales rose 5.7% in January, helped by strong growth overseas. On the economic front, the Census Bureau reported that wholesale inventories rose 1.1% in December, topping forecast.