Closing Update: Late Sell-Off Pulls Dow, S&P 500 Underwater at Close; Nasdaq Composite Continues Run Higher

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Stocks ended mixed Friday, with the Dow Jones Industrials Average and the S&P 500 giving in to a late sell off to snap a four-day winning streak. The Nasdaq Composite continued its run higher, however, again closing at its best levels since the Internet bubble years.

Consumer stocks also were mixed on Black Friday, traditionally one of the busiest shopping days of the holiday season, with shares of consumer discretionary companies posting smallish gains while consumer staples stock finished slightly lower. Most other industry sectors in the S&P 500 also were lower today, although technology stocks also managed to end with small gains.

Volume, however, was painfully thin Friday, stifled by the absence of market-moving economic news and earnings as well as the abbreviation of the session the day after Thanksgiving.

The broader markets this week were elevated by mostly strong economic data, which pointed to a modest economic recovery and improving consumer sentiment without the inflationary pressure associated with economic growth.

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

Dow Jones Industrial Average down 10.92 (-0.07%) to 16086.41

S&P 500 down 1.42 (-0.08%) to 1805.81

Nasdaq Composite Index up 15.14 (+0.37%) to 4,059.89

GLOBAL SENTIMENT

Hang Seng Index +0.39%

Shanghai China Composite Index +0.05%

FTSE 100 Index -0.06%

UPSIDE MOVERS

(+) NAT, Establishes new offshore-supply vessel company, expects increased demand for liquefied natural gas carriers from Japan.

(+) ZOOM, Agreed to acquire mobile-advertising company Beijing Baifen Tonglian Information & Technology Co. in a stock deal.

(+) DSS, The company's DSS Technology Management unit has filed a patent lawsuit against Apple Inc. ( AAPL ).

DOWNSIDE MOVERS

(-) RENN, Reported a Q3 adjusted loss of $19.7 million, wider than the loss of $12.1 million in the corresponding period of 2012.

(-) UEPS, The South African Constitutional Court set aside appeals court decision but suspended its declaration of invalidity pending determination of a "just and equitable remedy" regarding South African Social Security Agency awarding a contract to Net1's wholly owned subsidiary Cash Paymaster Services.

(-) FTNT, Analysts were "unsettled" by the departure of Chief Financial Officer Ahmed Rubaie after just seven months on the job.



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: AAPL

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