Closing Update: Wall Street Cheers Iranian Agreement, But Record Stock Levels Fade to Narrowly Mixed Close
Stock indices ended off their best levels of the day when this morning's gains tied to a deal to temporarily halt Iran's nuclear ambitions ran out of steam at record highs. The major indices are unchanged to only marginally higher, unable to maintain the momentum generated by at least a temporary ease in Middle East tensions, decline in energy prices, and expectations for a robust holiday retail season. The Nasdaq squeezed out a slim gain as biotech gains offset heavy pressure on social-networking stocks. The Nasdaq briefly crossed above the 13-year high of 4,000. The DJIA manages a narrowly higher finish, too. But the S&P 500 ends in the red, unable to extend the record high achieved earlier in the session.
Today's economic data was a non-event with both October pending home sales and the November Dallas Fed business activity index below consensus estimates.
Here's where the markets stand at the close:
Dow Jones Industrial Index was up 7 points, or 0.1%, to 16,072
S&P 500 was down 2 points, or 0.1%, at 1,802
Nasdaq Composite Index was up 3 points, or 0.1%, at 3,994
FTSE 100 was up 0.30%
Nikkei 225 was up 1.54%
Hang Seng Index was down 0.05%
Shanghai China Composite Index was down 0.47%
CBST, Announced positive top-line results from the company's pivotal Phase 3 clinical trial of its antibiotic candidate ceftolozane/tazobactam in complicated urinary tract infections
CAMT Reported a Q1 loss of $0.01 per share, ex one-time items, versus the Capital IQ consensus of $0.03 loss per share. Revenues were $18.1 million, versus the analyst estimate of $17 million. In addition, the company expects Q2 revenues of $21 million - $23 million, above the consensus of $17.90 million.
DVA, The U.S. Federal Government cancelled an earlier proposed cut in medical payments.
UNXL Fort Worth regional office of the United States SEC commission has issued subpoenas concerning the company's agreements related to its InTouch Sensors.
QIHU Beats on Q3, sets guidance above street, but gets downgrade from Stifel Nicolaus cut its rating from Buy to Hold.
SDRL Seadrill reported net income for the quarter was $315 million, or $0.61 per share versus the Capital IQ estimates of $0.68 per share.