Closing Update: Stocks End Losing Streak As Investors Shrug off Washington Gridlock, Taper Worries Eased On Claims, Fed Chatter

By
A A A
Share |

The stock market squeezed out slim gains as traders struggled to push indices into positive territory for the first time in six days. Although equities continued to be plagued by the deadlock in Congress, investors shrugged off threats of a shutdown by House Speaker John Boehner and put their money back in the market following a small decline in initial jobless claims and dovish comments from Fed officials Stein and Kocherlakota.

Stocks were also aided by falling Treasury yields -- which have dropped close to 10 basis points since the beginning of the week -- as well as technical support for the Dow Industrial at the 50 day moving average of 15,293.

Here's where the markets stood at the close:

US MARKETS

Dow Jones Industrial Index was up 55.04 (+0.36%) to 15,328.30

S&P 500 was up 5.90 (+0.35%) to 1,698.67

Nasdaq Composite Index was up 26.33 (+0.70%) to 3,787.43

GLOBAL SENTIMENT

FTSE 100 was up 0.21%

Nikkei 225 was up 1.22%

Hang Seng Index was down 0.36%

Shanghai China Composite Index was down 1.94%

UPSIDE MOVERS

FLOW, The company has entered into a definitive agreement to be acquired by private equity firm American Industrial Partners in a transaction valued in excess of $200 million.

KIOR, The cellulosic fuel produer plans to double production capacity at its facility in Columbus, Mississipi.

BBBY, Bed, Bath & Beyond reported Q2 earnings of $1.16 per share beating estimates of $1.15 per share but reported mixed guidance for 2013 and 2014.

MONT, Shares surged after the company's IPO

DOWNSIDE MOVERS

SPDC, Announced the pricing of its 6.95 million shares at $3 each, a discount of about 16% to Wednesday's closing price

HTZ, Hertz cuts full year revenue, EPS guidance due to weaker airline rentals

LLY, Breast cancer drug ramucirumab did not meet its primary endpoint



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:

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

152,099,280
  • $16.13 ▼ 1.59%
76,450,549
  • $59.72 ▲ 1.07%
57,375,391
  • $36.35 ▲ 6.26%
50,140,425
  • $26.93 ▲ 0.60%
49,201,544
  • $3.17 ▲ 2.59%
39,533,031
  • $86.18 ▲ 1.33%
36,760,050
  • $13.42 ▲ 2.84%
33,109,047
  • $26.12 ▲ 1.16%
As of 4/16/2014, 04:05 PM