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Closing Update: Dow Ends Shortened Session At New Record But Late Selling Drags S&P 500 to Small Loss


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Stocks extended their "Santa Claus" rally to a sixth day, with the Dow Jones Industrial Average climbing to a fresh record Wednesday in a shortened session ahead of the Christmas holiday while late selling pulled the S&P 500 off its earlier record. Gains today were supported by more signs of a strengthening labor market, with first-time applications for unemployment insurance falling to 280,000 last week, down 9,000 claims from the prior week's revised level.

Most industry sectors in the S&P 500 posted moderate gains, although shares of health care companies recorded outsized advances after lagging the broader markets earlier this week. Energy and mining stocks fell as crude oil took another spill and gold traded lower through most of the day. But utility stocks notched big advances with falling energy prices expected to boost industry earnings in the future.

Crude oil for February delivery was down $1.36 to $55.78 per barrel in afternoon trade while January natural gas was off 14 cents at $3.03 per 1 million BTU. February gold was ahead 50 cents at $1,174 per ounce as the U.S. dollar backed away from its recent high.

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

Dow Jones Industrial Average up 6.04 (+0.03%) to 18,030.21

S&P 500 down 0.29 (-0.01%) to 2,081.88

Nasdaq Composite Index up 8.05 (+0.17%) to 4,773.47

GLOBAL SENTIMENT

Hang Seng Index up 0.07%

Shanghai China Composite Index down 1.98%

FTSE 100 Index up 0.18%

UPSIDE MOVERS

(+) ANFI, raises FY15 guidance; forecasting 25% growth in revenue and adjusted EBITDA over year-ago levels. Company previously expected 20% rise for adjusted EBITDA this year. Street is expecting FY15 revenue to grow 25.8% over prior year.

(+) ADMS, U.S. regulators approve new drug application for its Namzaric medication to treat Alzheimer's-type dementia. The company is expecting a 2015 commercial launch by Activis ( ACT ) for the combination of complementary drugs that are often co-prescribed.

(+) ACHN, (+10.0%) Piper Jaffray today reiterates Overweight rating and $22.50 price target, with analyst Edward Tenthoff writing recent price weakness has created a buying opportunity for the stock.

DOWNSIDE MOVERS

(-) CUBA, Company president Thomas Herzfeld discloses sale of 200,000 shares in Dec. 22 regulatory filing, pocketing $2.46 million after selling 100,000 shares at $11.51 apiece and another 100,000 shares at $13.08 each.

(-) CAMP, Sees fiscal Q4 revenue in a range of $66 million to $70 million, lagging the Capital IQ consensus by at least $1.2 million. Weak outlook for current quarter upstages Q3 adjusted earnings beating estimates by $0.02 per share.

(-) EXXI, Shares held by short-seller rise nearly 1% over prior reporting period to 18.19 mln shares on Nov. 28, now representing 19.9% of the stock's float, which are the shares not held by insiders and are widely available for trading.

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) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





This article appears in: Investing , Commodities
Referenced Symbols: ACT



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