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Traders work on the floor at the New York Stock Exchange in New York, Tuesday Aug. 26, 2008. Wall Street is narrowly mixed after two economic reports came in much better than the market expected.

Stocks end lower on personal income data

By TIM PARADIS

AP Business Writer

Wall Street tumbled Friday after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed. The Dow Jones industrial average more than 170 points, while a disappointing profit report from computer maker Dell Inc. weighed on the technology-heavy Nasdaq composite index.

Shoppers walk next to children's store at a mall in San Jose, Calif., Tuesday, Aug. 12, 2008. Personal incomes plunged in July while consumer spending slowed significantly as the impact of billions of dollars in government rebate checks began to wane.

Incomes drop sharply in July while spending slows

By MARTIN CRUTSINGER

AP Economics Writer

Consumer spending slowed to a crawl and personal incomes plunged in July, reflecting the waning impact of $93 billion in economic stimulus payments.

In this May 29, 2008 file photo, Dell computers are on display at Best Buy in Mountain View, Calif. Computer maker Dell Inc. says its fiscal second-quarter profit fell 17 percent Thursday, Aug. 28, 2008. Restructuring charges were partly to blame.

Dell 2Q profit drops 17 percent and stock plunges

By JESSICA MINTZ

AP Technology Writer

Slashing computer prices helped Dell Inc. boost sales in its fiscal second quarter, but the No. 2 PC maker's bottom line took a hit when efforts to cut costs failed to make up the difference.