Closing Update: Nasdaq Closes Higher in Afternoon Rebound But Dow, S&P 500 Finish in the Red on Russia-Ukraine Worries

Stocks ended mixed Friday, with consumer and technology shares rebounding just enough to lift the Nasdaq Composite index back to positive territory by the close. Shares slumped at mid-day, giving back earlier advances that followed tame inflation data, after reports of renewed fighting in Ukraine hit. Questions over Russian intentions with its supposed aid convoy also influenced commodity prices. Gold rose in haven-shopping and crude oil and wheat futures climbed on supply concerns.

The Commerce Department today said producer prices rose only 0.1% in July, meeting expectations, and falling from an unrevised 0.4% gain the previous month. Excluding the food and fuel, the producer price index rose an as-expected 0.2% last month and follows a downward revision in June to a 0.1% rise.

Crude oil for September delivery rose $1.77 to $97.35 a share while September natural gas fell 13 cents to finish at $3.78 per 1 million BTU. December gold fell $9.40 to settle at $1,304.50 per ounce, giving back earlier gains in haven-shopping. September silver slid 38 cents to finish at $19.49 per ounce while September copper rising 12 cents to $3.09 per pound.

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

Dow Jones Industrial Average down 50.67 (-0.30%) to 16,662.91

S&P 500 down 0.12 (-0.01%) to 1,955.06

Nasdaq Composite Index up 11.92 (+0.27%) to 4,464.93


Hang Seng Index up 0.62%

Shanghai China Composite Index up 0.92%

FTSE 100 Index up 0.06%


(+) MNST, Enters long-term strategic partnership with Coca-Cola ( KO ), which will buy 16.7% stake in MNST for $2.15 bln. The deal includes KO contributing its energy portfolio to MNST, which will contribute its non-energy portfolio to KO.

(+) ACHN, Reports interim results from Phase II trial of its ACH-3102 drug candidate, with all 12 patients taking the drug combined with Gilead Sciences ( GILD ) Sovaldi Hep C treatment showed no detectable traces of the virus after four weeks.

(+) AMCF, Crushes lone analyst estimate for Q2 revenue, posting a 131.7% jump in sales during the three months ended June 30 of $175.5 mln. Net income of $2.9 mln, or $0.28 per share, reverses $79,414 net loss last year.


(-) LAD, Reduced to Underweight at Morgan Stanley.

(-) WB, Trims Q2 loss, matching Street view. Offers strong Q3 sales outlook.

(-) ICPT, FBR Capital assigns Underperform rating with a $172 price target.

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 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.

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