Nasdaq Turns Lower, Dow and S&P 500 Still Higher on Alibaba Debut

The Nasdaq turned lowered in midday trading Friday as the other major markets continue to move higher, boosted by the excitement over Alibaba's (BABA) debut at the New York Stock Exchange. The Chinese e-commerce giant priced its IPO at $68 a share and it began trading at $92.70 a share up roughly 35%. Yahoo (YHOO) owns about a 24 percent stake in Alibaba and is trading higher. The Conference Board's index of leading economic indicators increased 0.2% in August. The expectations was for a rise of 0.4%. Concur Technologies (CNQR) is up about 18% on news it will be bought by German's software giant SAP for $8.3 billion. Telsa (TSLA) is moving lower after an analyst at Goldman Sachs (GS) commented on concerns about the timing and capital needs of the new gigafactory.