4:35 pm : Losses were steep and widespread Friday as all ten of the economic sectors finished lower. The downturn was most apparent in the technology sector, which faltered after a key player issued a disappointing announcement. Government data did little to spur buying in another low volume session.

Stocks struggled from the start of the session as Dell (DELL 21.73, -3.48) announced earnings per share results that missed the consensus estimate, then compounded matters by warning of a slowdown in IT spending. That outlook cast a shadow over fellow large-cap tech stocks, like Microsoft (MSFT 27.29, -0.35). Microsoft was pushed out of favor, despite picking up a German price comparison and shopping site to add to its online portfolio. It is paying $486 million for the site's parent. The Nasdaq 100 closed with a 2.2% loss.

Fellow tech player Marvell Technology (MRVL 14.11, -0.65) also finished lower despite announcing better-than-expected earnings per share and solid revenue growth. The general sense of pessimism pervading trade proved too much for the firm's upside surprise. The tech sector, the largest in the S&P 500, finished 2.5% lower, more than any other sector. Its loss was felt in the broader market.

Economic data did little to motivate buyers. July personal income fell 0.7%, due largely to the lower amount of fiscal stimulus checks compared with June and May. Excluding the impact from the stimulus, real disposable personal income was up 0.5% in July, which is more than June and May. Personal consumption expenditures (PCE) for July increased 0.2%, as expected. The PCE deflator was up 0.6%, reflecting higher gas prices. Core PCE was up 0.3% for the second month in a row and

5:30PM FDIC taps regions to acquire deposits of failed Atlanta Bank (RF) 9.27 +0.35 : Co announced that it has assumed from the Federal Deposit Insurance Corporation ~$900 mln in total deposits, including all uninsured deposits, of Alpharetta-based Integrity Bank. Federal regulators at close of business on August 29, 2008 declared Integrity Bank insolvent and the FDIC was named receiver. The FDIC approved the assumption of ~$900 mln in deposits by Regions Bank. The FDIC will retain most of Integrity Bank's loan portfolio for later disposition.

4:30PM FMC Corp increases soda ash prices (FMC) 73.54 -1.12 : Co announced that effective October 1, 2008, or as contract terms permit, it will increase list and off-list prices by $40.00/short ton for all grades of soda ash. This increase applies to both bulk and packaged soda ash.

4:23PM Conference/Events Calendar for the week of September 1st - 5th : Events of interest for the week of, September 1st - 5th, include: Monday: Equity and bond markets closed in observance of Labor Day...  Tuesday: HAL, BAS, D, FTI, SUN at Lehman Brothers CEO Energy Conf; LRCX, MTSN, CNQR, CVG, SNPS at Citigroup Global Technology Conf...  Wednesday: DHR Investor and Analyst Meeting; ADBE, QCOM, ARRS, IBAS, MOT at Kaufman Brothers Investor Conf; AIG, AGO, VR, AFL, FFG, RDN at Keefe, Bruyette & Woods, Inc. Insurance Conf; AVT, CTXS, ADI, ELX, INTU at Citigroup Global Technology Conf; CHTT, KFT, CL, HRL, BG at Lehman Brothers Back-to-School Consumer Conf; CRS at Cowen and Company Focus: Impact of Oil Prices on Commercial Aerospace Conf; GPRO, VRTX, AFFY, EHTH, ZMH, AMLN at Thomas Weisel Partners Healthcare Conf; HD, SYY, ZLC, HLF, JCG, KSS, ETH at Goldman Sachs Global Retailing Conf; JOEZ Southern California Investor Conf; MMPI, SPPI, BFRE, BKRS, CDIC at California Stock Report Southern California Investor Conf; WCC at Morgan Keegan Equity Conf; Fed's Beige Book...  Thursday: TEX Analyst Meeting; AEO, JWN, LOW, ANF, COH, DLTR at Goldman Sachs Global Retailing Conf; ALL, HALL, LFG, FPIC, THG at Keefe, Bruyette & Woods, Inc. Insurance Conf; BEC, SMMX, VPHM, WMGI, CVS at Thomas Weisel Partners Healthcare Conf; CLDN, MNRO, AMPH, DY, MAIN at Morgan Keegan Equity Conf; Cowen - 2nd Annual Clean Energy Conf; CYTK, MDVN, GTXI, MIPI, NBIX at NewsMakers in the Biotech Industry; MOSY, PTEC, MRCY, TXN, UNFY at Kaufman Brothers Investor Conf; MOT, ACTS, RMBS, SNX, AEIS at Citigroup Global Technology Conf; PENN at Barclays Capital Gaming, Hospitality & Leisure Credit Conf; SAFM, GIS, HAIN, PBG, OII, OIS at Lehman Brothers Back-to-School Consumer Conf; STX, XRTX, WDC, IVAC, HTCH at Needham & Company 2nd Annual HDD Investor Day; TEN, TRW, F, DAN, GM at Credit Suisse Group Annual Global Automotive Conf; VAR at Citigroup Radiation Oncology Seminar...  Friday: AGP Investor Day Meeting; NLC Annual Investor Day; CR, GR, CW, DCO, PH at Gabelli & Company, Inc. Aircraft Supplier Conf; CTXS, DIGA, ADES, BITI, INSW at Kaufman Brothers Investor Conf; ICXT, RHB, PACR, BWP, NSIT, CPNO at Morgan Keegan Equity Conf; NUVA, WAG, CEPH, NXTM, CELG at Thomas Weisel Partners Healthcare Conf.