Closing Update: S&P 500 Finishes Just Shy of All-Time High After Day-Long Rally Eases Just Ahead Close

By Staff,

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Stocks rolled to solid gains Monday, with Wall Street brushing back any worries about weak growth in recent economic data. The S&P 500 finished less than 1 point of a record close after earlier hitting an intra-day high of 1,858.71 and nearly erasing all of its 2014 losses in the process. The Dow Jones Industrials and the Nasdaq Composite Index also finished with impressive increases. Nearly all industry sectors in the S&P finished in the black, paced by shares of energy and financial companies. Utility and material stocks were the lone decliners.

Today's data was weak across the board, starting with the Chicago Fed National Activity index which dropped to a negative 0.39 reading from a positive 0.16 score in December. That followed by a decline in the Purchasing Managers Index for the service industries to a 52.7 reading this month from 56.6 in January. Finally, the Dallas Fed Business Activity Index fell to 0.3 in February from 3.8 the month prior.

Crude oil for April delivery settled 62 cents higher at $102.82 per barrel while March natural gas shed 39 cents today to finish at $4.62 per 1 million BTU. April gold rose $14.20 to $1,337.90 per ounce while March silver added 27 cents to finish at $22.04 per ounce. March copper was down 2 cent to $3.27 per bound.

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

Dow Jones Industrial Average up 105.83 (+0.66%) to 16,209.13

S&P 500 up 11.46 (+0.62%) to 1,847.71

Nasdaq Composite Index up 29.56 (+0.69%) to 4,292.97


Hang Seng Index down 0.80%

Shanghai China Composite Index down 1.75%

FTSE 100 Index up 0.41%


(+) SMP, Reports better than expected Q4 earnings, increased size of share buyback.

(+) SSY, Adopts new shareholder rights plan to thwart potential takeover bids.

(+) DYSL, Signs three-year comprehensive supply agreement with a division of L-3 Communications ( LLL )


(-) MHR, Shares hit new 52-week high, only to turn sharply lower after Q4 revenue doubles over year-ago levels but still trails analyst forecasts by over 8%.

(-) LOCK, Warns of FTC investigation in its 10-K filing.

(-) AWI, Reports Q4 EPS of $0.32, trailing analyst consensus by $0.07 per share.

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

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

This article appears in: Investing Commodities
Referenced Stocks: LLL

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