Wall Street slips as IBM, Intel falter after results; Dow falls 160 points

The Nasdaq Composite gained 0.76 points to 13,531.18, helped by a rise in shares of Microsoft Corp and Facebook Inc.

Wall Street's main indexes slipped on Friday after hitting record levels in the prior session, as shares of blue-chip technology stalwarts Intel and IBM tumbled following their quarterly results.

IBM Corp slumped 10% and was the top drag on the Dow Jones Industrial Average after it missed estimates for quarterly revenue, hurt by a rare sales decline in its software unit.

Intel Corp shed 6.5% as new Chief Executive Officer Pat Gelsinger's post-earnings comments suggested the lack of a strong embrace of outsourcing.

The S&P 500 and the Nasdaq pared some losses after the opening bell as data showed US manufacturing activity surprisingly