US tech stocks dropped on Friday after a disappointing profit outlook from Microsoft Corp, but the broad Standard & Poor's 500 index was higher on news that economic growth picked up in the first quarter.
A rise in shares of energy companies and major banks also supported stocks. But shares of Microsoft suffered their biggest one-day slide since December 2000, pushing the Nasdaq down more than 1 percent.
The Dow Jones industrial average was down 11.77 points, or 0.10 percent, at 11,370.74. The Standard & Poor's 500 Index was up 1.73 points, or 0.13 percent, at 1,311.45. The Nasdaq Composite Index was down 21.09 points, or 0.90 percent, at 2,323.86, off its session low at 2,317.47.