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Dow Takes Triple-Digit Loss; Dollar Rises

NEW YORK ( TheStreet) -- The Dow finished with a triple-digit loss Thursday as a stronger dollar pressured equities and commodities in the afternoon.

The Dow Jones Industrial Average fell 133 points, or 1.3%, to 10,308. The S&P 500 slid 13 points, or 1.2%, to 1096 and the Nasdaq was off by 27 points, or 1.2%, at 2180.

Though tech stocks struggled Thursday, a cadre of sector players reported earnings after hours that will set the stage for Friday's session. Leading the charge is Research in Motion (RIMM), as shares jumped more than 12% in extended-hours trading. The BlackBerry maker fended off increasing smartphone competition from the likes of Apple (AAPL) and Motorola (MOT) during the third-quarter, blowing past estimates with a 41% boost to its top-line and a profit of $1.10 a share.

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But market observers turned sour on fellow smartphone maker Palm (PALM), despite a narrowing loss. The company reported an adjusted loss of 37 cents a share in the second-quarter. Shares slipped more than 2% after the company missed forecasts.

Oracle (ORCL) shares went 3.6% higher in after-hours trading, as the software maker reported earnings of 39 cents a share after the closing bell, beating the 36-cent consensus.

Elsewhere, Nike (NKE) shares climbed over 3% in after-hours trading after the sports apparel maker said future orders rose 4%. Second-quarter profit dipped less than forecast, while revenue met expectations.

As stocks dipped on Thursday, the market clearly took its cue from dollar moves, according to one analyst. The dollar index was last up 0.8% at 77.73 and near a new session high of 77.94.
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Chart of I:DJI
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