U.S. Afternoon Market Commentary
April 17, 2014
3:30 p.m. CT
U.S. stocks closed little changed as investors weighed multiple earnings reports and jobless claims. Google's first-quarter earnings slightly missed expectations despite 21% year-over-year growth in its core search sales. IBM met expectations, but revenue declined as a 4% increase in software sales was more than offset by a 23% drop in revenue. In economic news, the number of Americans filing for unemployment last week hovered near the lowest level in almost seven years, as initial claims rose by 2,000 and continuing claims fell by 11,000. U.S. Treasury prices closed down for the day. The Dow Jones Industrial Average closed up 382 points, or 2.3%, for the week.
Looking at the S&P 500,
The best-performing sector was: Energy
While the worst-performing sector was: Utilities
The Dow Jones Industrial Average* was down 16.31 at 16,408.54
The Standard & Poor's 500 Index was up 2.54 at 1,864.85
The NASDAQ Composite Index was up 9.29 at 4,095.52
Volume on the New York Stock Exchange was moderate, with 763.74 million shares traded.
Advancers outnumbered decliners by roughly a 3-to-2 margin.
In commodity markets,
The spot price of gold fell $7.55 to $1,295.00
The spot price of silver fell $0.03 to $19.64
And crude oil prices rose $0.83 to $104.59
In the bond market,
The 30-year Treasury yield closed at 3.52%
And the 10-year Treasury yield finished at 2.72%
* The Dow Jones Indexes are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones Indexes © 2013 is proprietary to Dow Jones & Company, Inc.