Closing Update: Markets Disconnect On Mixed Data and Earnings; Blue-Chips Outperform

By
A A A

Blue-chips closed higher Friday, buoyed by strong gains in American Express ( AXP ) and Visa ( V ). Financial markets vacillated between negative and positive territory for most of the day as investors digested mixed economic data, disappointing Intel ( INTC ) results, and a UPS ( UPS ) warning, leaving the S&P 500 and Nasdaq lagging the Dow Industrials.

Although futures were higher into the data, the gains were unraveled by a bigger than expected decline in housing starts and permits. Capacity utilization improved to a near 6-year high, but the combination of severe winter storms and the dismal December jobs report caused consumer sentiment, as configured by Reuters/Univ of Michigan, to fall versus the forecast for a 1 point improvement.

Here's where the markets stand at the close:

US MARKETS

Dow Jones Industrial Index was up 41 (+0.3%) at 16,458.56

S&P 500 was down 7 (-0.4%) at 1,838.70

Nasdaq Composite Index was down 21 (-0.5%) at 4,197.58

GLOBAL SENTIMENT

FTSE 100 was up 0.20%

Nikkei 225 was down 0.08%

Hang Seng Index was up 0.64%

Shanghai China Composite Index was down 0.93%

UPSIDE MOVERS

STML CEO presentation at the JP Morgan Healthcare conference boosts stock price

RTRX Two investment funds disclosed a combined 12.5% stake in the biotech company.

EA Battlefield 4, Madden NFL 25 and FIFA 14 games ranked on NPD Group's best seller list for 2013.

DOWNSIDE MOVERS

STRA Bank of America/Merrill Lynch downgraded the stock to underperform from neutral.

SSNI Baird downgrades Silver Spring Networks to Neutral from Outperform and slashed its price target to $17 from $32 a share.

AAWW British Airways plans to return three aircraft, exit cargo-freighter service



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: AXP , INTC , UPS , V

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

How to Save Money at Bars
How to Save Money at Bars           

Stocks

Referenced

Most Active by Volume

44,823,339
  • $75.19 ▲ 0.28%
43,744,171
  • $3.44 ▼ 0.29%
42,340,022
  • $97.671 ▲ 0.66%
34,178,145
  • $17.62 ▼ 1.23%
34,028,998
  • $15.59 ▼ 0.19%
32,055,708
  • $21.23 ▼ 2.41%
31,539,235
  • $3.76 ▲ 0.80%
30,434,619
    $34.25 unch
As of 7/25/2014, 04:03 PM