NEW YORK (CNNMoney.com) -- Stocks opened lower on Friday, extending a two-day retreat, as investors expressed wariness following Dell's disappointing earnings.

The Dow Jones industrial average was down 26 points, or 0.2%, shortly after the opening bell. The S&P 500 slipped 0.4%, and the Nasdaq composite dropped 0.6%.

The dollar rose against rival currencies. Oil and gold prices fell. Bonds were mixed.

Stocks have fallen for two consecutive sessions amid worries about the economic recovery, the strengthening dollar, and the technology sector.

Derek Hoffman, chief executive and co-founder of the financial media site Wall St. Cheat Sheet, said the dismal report from Dell, a bellwether electronics company, dragged down investor confidence ahead of Black Friday.

"Retail is looking generally weak - weaker than expected, given the high unemployment rate," he said. "It's showing that people are tightening their wallets. Retailers are going to be feeling it this year."

Companies: Dell reported late Thursday a sharp drop in quarterly profit that fell short of Wall Street's estimates.

Also on Thursday, analysts at Bank of America Merrill Lynch downgraded the semiconductor industry. That came one day after two key software companies issued cautious profit outlooks.

But in other earnings news, retailer Gap said its quarterly profit surged 25%.

Economy: Investors will take in a report on state unemployment, which is due out at 10 a.m. ET.

World markets: Asian shares retreated. The Nikkei in Japan lost 0.5% while the Hang Seng fell 0.8%. Major European indexes declined in midday trading.

Money, gold and oil: The dollar rose versus major international currencies, including the euro, the yen and the pound.

Gold broke another record on Thursday, settling up 70 cents to $1141.90 an ounce. But gold fell $1.80 in electronic trading on Friday morning, to $1,139.60.

The price of oil fell $1.06 to $76.40 a barrel.

Bonds: Prices for U.S. Treasurys were mixed. The yield on the benchmark 10-year note, which moves inversely to its price, rose to 3.51% from 3.50% late Thursday.

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