Closing Update: Dow, S&P 500 Again End at Record Highs, Led by Consumer Stocks

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Stocks reversed early declines, with the major market indices turning green this afternoon, initially led by consumer stocks on better-than-expected results from retailer Macy's ( M ). Shares of technology companies helped lift the Nasdaq Composite and S&P 500 indices back to positive ground, with most other sectors joining the rally by the close.

The markets looked set for a day of profit-taking earlier in session as investors appeared content to wait for the start of confirmation hearings tomorrow for Federal Reserve Chairwoman-nominee Janet Yellen and possible remarks providing more clarity on when the central bank may begin to taper its bond-buying stimulus efforts.

Economic data today had little influence on market direction, with the Atlanta Fed Business Inflation Expectations index unchanged from the prior month at 1.9% during November.


Crude oil for December delivery rose 79 cents to settle at $93.91 per barrel while December natural gas slid 5 cents to finish at $3.57 per 1 million BTU. December gold fell $2.70 to $1268.50 per ounce while December silver declined 32 cents to $20.45 per ounce. December copper fell 7 cents to $3.16 per pound.

Here's where the markets stood at end-of-day:

Dow Jones Industrial Average up 70 (+0.5%) to 15,821

S&P 500 up 14 (0.8%) to 1,782

Nasdaq Composite Index up 45 (+1.1%) to 3,965

GLOBAL SENTIMENT

Hang Seng Index down 1.91%

Shanghai China Composite Index down 1.83%

FTSE 100 Index down 1.44%

UPSIDE MOVERS

(+) RLD, Fiscal Q2 revenue of $43.9 million tops analyst consensus by $1 million. Net loss of $0.09 per share beat by $0.10.

(+) PBPB, Sandwich shop devours analyst estimates for Q3 earnings, revenue.

(+) M , Retailer climbs to a record high following Q3 earnings of $0.47, up 31% from year ago levels and beating analyst estimates by $0.08 per share.

DOWNSIDE MOVERS

(-) CWCO, Earns $0.06 per share in Q3, down from $0.09 in the year-ago quarter and trailing the Capital IQ consensus by $0.03 per share.

(-) PTSX, Reports a Q1 loss of $0.10 per share on $6.8 million in revenue compared to a $0.01 loss on $7.7 million in revenue during the same quarter last year.

(-) OXGN, Net loss expands to $2.6 million, or $1.88 per share, from $2.2 million ($1.56 per share) loss in the year-ago period.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: M

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As of 12/26/2014, 04:15 PM


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