Stocks End Lower on Friday, Spain Asks for Aid (GE, MSFT)

By: , dated July 20th, 2012
Global and US stocks were down at the end of the week after Spain's request for financial aid. An agreement was approved early on Friday to lend up to $123 billion to Spain to recapitalize its banks. Many are worrying that Friday's losses will cancel out the gains made so far in July. Also driving down indices was the end of the commodities rally and a decline in oil for the first time in nine days. EBay (EBAY) cut their earnings output and Microsoft (MSFT) reported a quarterly loss of $492 million. Viacom (VIAB) and DirecTV (DTV) finally settled their dispute and will soon restore channels.

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