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Close Update: Stocks Hit New Highs, But Gains Capped By Unfriendly Economic Data

The S&P 500 stalled at a new record high Friday but held on to a modest gain as risk-averse investors swapped government bonds for equities in the aftermath of a potential cease-fire deal in Ukraine and the possibility for a weekend deal between EU officials and Greece, along with better-than-expected German GDP. The risk-on trade drove the yield on the 10-year note back over 2.00%, and the S&P 500 up by 0.40%. The Nasdaq Composite scaled a 15-year high, while the Dow Jones Composite Index made a new high for the year, led by gains in tech and consumer stocks.

Aided by today's positive action, stocks ended higher for the second straight week. The S&P 500 gained 1.9%, the Dow was up 1.0%, and the Nasdaq rose 3.0% above last week's close.

Although the equity markets received good news from overseas, domestic economic data kept a lid on today's positive trade, especially the 3-month low in consumer sentiment, and the largest decline in import prices in more than 6-years, both of which missed analyst expectations.

A few big names reported fourth quarter earnings including mixed results from American International Group ( AIG ) and Coca-Cola Enterprises ( CCE ), a miss from Avon ( AVP ), while SkyWest ( SKYW ) reported a huge beat on earnings, driving shares of the company to a new 52-week high.

Here's where the markets stood at the close:

US MARKETS

Dow Jones Industrial Index was up 46.97 (+0.26%) to 18,019.35

S&P 500 was up 8.51 (+0.41%) to 2,096.99

Nasdaq Composite Index was up 36.22 (+0.75%) to 4,893.84

GLOBAL SENTIMENT

FTSE 100 was up 0.67%

Nikkei 225 was down 0.37%

Hang Seng Index was up 1.07%

Shanghai China Composite Index was up 0.96%

UPSIDE MOVERS

(+) WWE Reported better-than-expected Q4 earnings and revenue

(+) COLM Q4 sales and revenue both beat consensus estimates

(+) SKYW Revenue topped analyst estimates

(+) CYBR Posted better-than-expected financial results for Q4 and provided guidance for Q1 and fiscal 2015 above Street consensus.

(+) CYTK Reported better-than-expected Q4 earnings and guided full-year 2014 revenues in line to above consensus

DOWNSIDE MOVERS

(-) ZNGA Met Q4 EPS estimates, beats on revenue but issued Q1 guidance below street estimates

(-) KN Reported a Q4 miss and disappointing guidance

(-) MX Restated financial results going back to 2011 lower

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

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

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