NASDAQ Stock Exchnage Ends Week on Low Note

The NASDAQ stock market ended a rather disappointing week on Friday, 5 September 2008. The NASDAQ closed on 2255.88 with an overall decrease of -0.14% following up with a rise in the unemployment rates up to 6.1%. Throughout the week, the materials and the energy sectors were the major economic sectors that traded with a considerable amount of gain throughout the NASDAQ session and were the major NASDAQ gainers also. The technology sector performed well initially, but it could not hold on to its gain for the later period of time. The technology companies have started to fear that a slowdown in technology will have a significant impact on their business operations. Retreat in the oil prices were seen as the main cause for slowdown in the NASDAQ stock exchange. The oil prices have not settled below $106 per barrel since early April.