Markets
XOM

Close Update: Wall Street Wobbles Into Close as Energy Weighs, Tech Slips

A generic image of a pair of glasses on top of a calculator
Credit: Shutterstock photo

Wall Street wobbled into the close on Friday with the benchmarks posting slim moves in mixed directions as earnings from Exxon Mobil ( XOM ) weighed on the blue-chip Dow Jones Industrial Average and sent the S&P's energy group sliding.

The Nasdaq Composite ended flat even after a strong first-quarter result from Amazon.com ( AMZN ) sent the e-commerce giant's stock up, but disappointing subscriber numbers from Charter Communications ( CHTR ) sent the cable company's shares spiraling in the tech-heavy index's biggest loss.

Stocks were choppy this week as investors watched quarterly earnings roll in, with results from top tech names cheered before jitters emerged in the group ahead of Apple's ( AAPL ) report due Tuesday.

With just over half of the S&P 500 companies releasing earnings, about 80% of those have reported positive earnings surprises, but only 51% have experienced a positive reaction in their shares after the results, D.A. Davidson said in a note Friday. On the week, the Dow fell 0.6%, the S&P 500 was little changed and the Nasdaq lost 0.4%.

Economic data also weighed with growth in the U.S. slowing on a quarterly basis while worries rose over wage inflation as the first-quarter employment cost index rose a faster-than-expected 0.8%. Consumer sentiment slipped in April, the University of Michigan's survey showed and next week's busy calendar includes the Federal Reserve's monetary policy meeting and non-farm payrolls next Friday.

The energy sector fell 1.2% after ExxonMobil's earnings came in below analysts' expectations and production fell. Exxon's 3.8% loss was the biggest decline on the Dow. Chevron ( CVX ) rose 1.9% after its earnings beat Wall Street's consensus. Telecoms had the strongest gain, rising 1.8% as Verizon (VZ) climbed 3.6% in the Dow's top advance.

Here's where the markets stood by the close:

US MARKETS

Dow Jones Industrial Average was down 11.15 points (-0.05%)

S&P 500 was up 2.97points (+0.11%)

Nasdaq Composite Index was up 1.12 points (+0.02%)

GLOBAL SENTIMENT

FTSE 100 was up 1.09%

Nikkei 225 was up 0.66%

Hang Seng Index was up 0.91%

Shanghai China Composite Index was up 0.23%

UPSIDE MOVERS

(+) CYAD (+19.66%) Publishes positive results from THINK study of CYAD-01

(+) BJRI (+13.42%) Reported upbeat Q1 results; analyst upgrades

(+) S (+8.33%) Reuters says Sprint, T-Mobile (TMUS) finalizing merger deal terms

(+) EXPE (+8.2%) Q1 loss narrows, revenue tops estimates

(+) ACAD (+7.67%) Reaffirms efficacy, positive benefit/risk profile of Nuplazid

DOWNSIDE MOVERS

(-) FLEX (-21.69%) Fiscal Q4 profit misses Street view, beats on revenue

(-) X (-14.14%) Reported disappointing Q1 results and guidance

(-) TLGT (-12.64%) Exchanging 3.75% senior notes due 2019 for 4.75% notes due 2023

(-) CHTR (-11.68%) Q1 residential customer relationships rise at slower pace vs year earlier

(-) AVHI (-10.65%) Posts surprise Q1 loss per share, revenue miss

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.


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

In This Story

XOM AMZN CVX AAPL CHTR

Other Topics

Stocks