Wall Street Beat: Software earnings look good

23.09.2011

In addition, the day's gains did not make up for the market turmoil caused by economic worries earlier in the week. The Nasdaq, as well as the other major exchanges were down for the week. Nasdaq computer stocks are still down almost 3 percent for the year. Overall, despite the strong close Friday, stocks suffered their worst weekly decline since October 2008, when markets were reeling from the virtual collapse of Wall Street.

Though IT sales growth looks strong for the year, the markets show that industry insiders still appear nervous about how the overall economy will affect sales -- if not for this year, then next year.