Stocks Finish Lower; Dow Jones’ Winning Streak Ends
The Dow Jones’ 10-day winning streak ended on Friday as stocks finished lower after investors digested some disappointing economic data.
The Dow Jones ended the day 0.17% lower at 14,514.11, the S&P 500 ended the day 0.16% lower at 1,560.70, and the Nasdaq ended the day 0.30% lower at 3,249.07. For the week, the Dow Jones rose 0.81%, the S&P 500 rose 0.61%, and the Nasdaq rose 0.14% higher.
Services sector led the losses in the S&P 500 in trading on Friday, ending the day 0.61% lower. Consumer Non-Cyclical sector also fell sharply, ending the day 0.59% lower. Conglomerates ended the day 0.22% lower. Industrials and Utilities were the best performers in the S&P 500 today. Both sectors ended 0.22% higher.
Among the major movers in trading on Friday were Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ: ULTA), which ended the day 16.10% lower at $74.14, Apple Inc. (NASDAQ: AAPL), which ended the day 2.58% higher at $443.66, Renren Inc. (NYSE: RENN), which ended the day 6.90% lower at $2.97, Molycorp Inc. (NYSE: MCP), which ended the day 3.34% higher at $6.19, and Aeropostale Inc. (NYSE: ARO), which ended the day 5.24% lower at $13.75.
On the economic front, the preliminary reading on Thomson Reuters/University of Michigan’s consumer sentiment index for the month of March came in at 71.8, compared to consensus forecast of a reading of 78. Meanwhile, consumer prices rose more than forecast in February, according to a report from the Labor Department. A report from the Federal Reserve showed that industrial production rose in February.
European markets ended mostly lower on Friday, with the FTSE 100 Index in London closing 0.61% lower, and the CAC 40 Index in Paris closing 0.71% lower. Asian markets ended on a mixed note overnight, with the Nikkei 225 Index in Japan closing 1.45% higher, and the Hang Seng Index in Hong Kong closing 0.38% 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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