Stock Market Watch

Stocks End on a Mixed Note; Dow Jones Posts Worst Weekly Performance for 2012

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Stocks ended on a mixed note on Friday, with the Dow Jones and S&P 500 ending the day in red. Stocks fluctuated between gains and losses on Friday as investors digested news of JP Morgan’s (NYSE: JPM) $2 billion trading loss.

The Dow Jones ended the day 0.27% lower at 12,820.60, the S&P 500 ended the day 0.34% lower at 1,353.39, and the Nasdaq ended the day 0.01% higher at 2,933.82.


Dow Jones logged in its worst weekly performance of 2012, falling 1.67%. The S&P 500 fell 1.15% for the week, while Nasdaq fell 0.76% for the week.

Financials were the worst performers in the S&P 500. The sector was dragged lower by JP Morgan, which fell 9.28%. Financials ended the day 0.92% lower. Energy stocks also fell sharply, ending the day 0.75% lower. Basic Materials stocks ended the day 0.72% lower.

Among the major gainers and losers in trading on Friday were NVIDIA Corporation (NASDAQ: NVDA), which ended the day 6.36% higher at $13.21, Chesapeake Energy Corporation (NYSE: CHK), which ended the day 13.80% lower at $14.81, Monster Worldwide Inc. (NYSE: MWW), which ended the day 19.01% higher at $9.33, and Francesca’s Holdings Corp.(NASDAQ: FRAN), which ended the day 13.16% lower at $24.02.

On the economic front, the preliminary reading on Thomson Reuters/University of Michigan’s consumer sentiment index came in well above forecast. Meanwhile, a report from the Labor Department showed that producer prices fell in the month of April as energy costs declined.

European markets also ended on a mixed note on Friday, with the FTSE 100 Index in London closing 0.57% higher, and the CAC 40 Index in Paris closing 0.01% lower. Asian markets, meanwhile, ended mostly lower, with the Nikkei 225 Index closing 0.63% lower, and the Hang Seng Index in Hong Kong closing 1.30% lower.

 

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edliston
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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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.

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