Why's the Dow Down While the S&P and Nasdaq Hit Record Highs?

The stock market was sharply mixed on Friday, with investors getting two very different pictures of what's happening in the market. If you look at the Dow Jones Industrial Average (DJINDICES: ^DJI), you'd think that Wall Street was sharply lower, with the Dow trading down 175 points to 35,696 as of 12:30 p.m. ET. However, the S&P 500 (SNPINDEX: ^GSPC) was up 8 points to 4,712, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped 112 points to 16,106 -- both in line to set new record highs if they can keep their current levels.

Investors have used the Dow as a proxy for the stock market for more than a century. However, that benchmark has never been a perfect barometer of the overall market, and today's activity shows some of its weaknesses in trying to reflect what's happening across Wall Street.

Image source: Getty Images.

Source Fool.com