Midday Update: Wall Street Cashes In as Profitable Quarter-End Comes to a Close

The major averages were flat to slightly lower on Friday, wedged into razor-thin ranges, as quarter-end profit-taking threatens a four-day winning streak for the Nasdaq and S&P 500. The Dow Jones Industrial Average was slightly in the red on losses in the energy and banking sector.

Friday's economic data gave investors a reason to pause as well with indications that consumer spending has slowed and confidence has ebbed.

Personal income increased an as-expected 0.4% in February, following a revised 0.5% gain the month prior. Spending, however, was higher by just 0.1%, missing +0.2% expectations, and down from a 0.2% gain in January.

The Chicago purchasing managers index rose to 57.7 in March from 57.4 the month prior, beating 57.0 estimates. But a consumer sentiment index from the University of Michigan dropped slightly to 96.9 from the initial read of 97.6.

Euro-zone markets were higher and ended the quarter in the plus column for a third straight quarter, buoyed by upbeat labor market and retail sales data from Germany. The UK's FTSE-100, however, slipped into the red, but also closed the quarter higher, its longest quarterly winning streak in six years.

Crude oil was down $0.04 to $50.32 per barrel. Natural gas was unchanged at $3.20 per 1 million BTU. Gold was up $0.90 to $1,248.90 an ounce, while silver was down $0.01 to $18.20 an ounce. Copper was down $0.02 to $2.65 per pound.

Among energy ETFs, the United States Oil Fund was up 0.02% to $10.57 with the United States Natural Gas Fund was down 0.26% to $7.55. Amongst precious-metal funds, the Market Vectors Gold Miners ETF was up 1.75% 22.95 while SPDR Gold Shares were up 0.21% to $118.72. The iShares Silver Trust was up 0.41% to $17.22.

Here's where the markets stand at mid-day:


NYSE Composite Index was down 5.32 points (-0.05%) to 11,514.52

Dow Jones Industrial Index was down 37.64 points (-0.18%) to 20,690.44

S&P 500 was down 0.31 points (-0.01%) to 2,367.80

Nasdaq Composite Index was up 6.84 points (-0.12%) to 5,921.23


FTSE 100 was down 46.60 points (-0.63%) to 7,322.92

DAX was up 56.44 points (+0.46%) 12,312.87

CAC 40 was up 32.87 points (+0.65%) to 5,122.51

Nikkei 225 was down 153.96 points (-0.81%) to 18,909.26

Hang Seng Index was down 189.50 points (-0.78%) to 24,111.59

Shanghai China Composite Index was up 12.28 points (0.38%) to 3,222.51


NYSE Energy Sector Index was down 41.47 points (-0.36%) to 10,802.76

NYSE Financial Sector Index was down 14.55 points (-0.20%) to 7,234.17

NYSE Healthcare Sector Index was down 7.83 points (-0.07%) to 12,755.28


(+) AKTX (+47.29%) FDA grants Fast Track designation for Coversin to treat paroxysmal nocturnal hemoglobinuria

(+) TRR (+45.82%) To be acquired by Mountain Capital for $17.55 per share

(+) SORL (+16.22%) Q4 EPS and revenue rose significantly from year ago, beating estimates

(+) FMC (+13.22%) Acquired portion of DuPont's ( DD ) crop protection business while selling substantially all of its health and nutrition business to DuPont


(-) DRIO (-23.37%) Prices 1.5 million share offering at 22.1% discount

(-) BLRX (-20.87%) Prices $25 million offering at 26% discount

(-) AKER (-17.32%) Announces private placement of 1.4 million shares at $1.40 per share

(-) CTSO (-17.27%) Announced plans for underwritten public offering

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.

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