Stocks End on a Mixed Note
Stocks ended on a mixed note in trading today as investors remained cautious ahead of a batch of earnings reports this week.
The Dow Jones ended the day 0.14% higher at 13,507.32, the S&P 500 ended the day 0.09% lower at 1,470.68, and the Nasdaq ended the day 0.26% lower at 3,117.50.
Transportation sector was the best performer in the S&P 500 today, ending the day 0.56% higher. Consumer Non-Cyclical sector also gained in trading today, finishing the day 0.38% higher. Financials gained 0.18% in trading today, while Basic Materials sector rose 0.03%. Technology was the worst performer in the S&P 500, ending the day 0.40% lower.
The losses in the Tech sector were led by Apple Inc. (NASDAQ: AAPL). Shares of the Cupertino, California-based technology giant tumbled after the Wall Street Journal, citing people with knowledge of the situation, reported that Apple cut its component orders for iPhone 5 due to weaker than expected demand. Apple shares ended the day 3.57% lower at $501.75.
Facebook Inc. (NASDAQ: FB) shares also fell sharply today even as Deutsche Bank upgraded the stock to a Buy rating. Facebook shares ended the day 2.43% lower at $30.95.
Dell Inc. (NASDAQ: DELL) shares surged in trading today amid talks that the company is in discussions with private equity firms over a possible buyout. Dell shares ended the day 12.96% higher at $12.29.
Investors were also cautious today as they waited for a speech from Federal Reserve Chairman Ben Bernanke. The Fed Chairman was scheduled to speak at the University of Michigan at 4 PM EST.
European markets ended mostly lower earlier today, with the FTSE 100 Index in London closing 0.22% lower. Asian markets rose sharply overnight, with the Nikkei 225 Index in Japan closing 1.40% higher, and the Hang Seng Index in Hong Kong closing 0.64% higher.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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