Stocks Finish on a Mixed Note
Stocks finished on a mixed note in trading today as ongoing worries over the U.S. debt ceiling weighed down investors’ sentiment.
The Dow Jones ended the day 0.17% lower at 13,511.23, the S&P 500 ended the day 0.02% higher at 1,472.63, and the Nasdaq ended the day 0.22% higher at 3,117.54.
Consumer Cyclical sector was the worst performer in the S&P 500 today, ending the day 1.07% lower. Basic Materials and Industrials also fell sharply today. Both sectors ended the day 0.71% lower. Energy sector ended the day 0.05% lower. Technology sector was the best performer in the S&P 500 today, ending the day 0.62% higher.
Apple Inc. (NASDAQ: AAPL) shares led the gains in the Tech sector in trading today. Shares of the technology giant rebounded after falling sharply in the last two trading sessions on report that the company cut component orders for iPhone 5 due to weaker than expected demand. Apple shares ended the day 4.15% higher at $506.09.
Goldman Sachs Group Inc. (NYSE: GS) shares also rose sharply today after the Wall Street giant reported its fourth-quarter results. Goldman Sachs shares ended the day 4.06% higher at $141.09.
Other major movers in trading today were Chipotle Mexican Grill Inc. (NYSE: CMG), which ended the day 5.51% lower at $280.94, Boeing Company (NYSE: BA), which ended the day 3.38% lower at $74.34, and JP Morgan Chase & Co. (NYSE: JPM), which ended the day 1.01% higher at $46.82.
On the economic front, a report from the Labor Department showed that consumer prices were unchanged in December. A report from the Federal Reserve showed that industrial production rose 0.3% in December. Meanwhile, homebuilder sentiment remained unchanged in January, according to the National Association of Homebuilders.
Earlier today, the Federal Reserve released its Beige Book report. The Fed said in the report that economic activity expanded at a moderate pace in January with consumer spending picking up.
European markets ended on a mixed note earlier today, with the FTSE 100 Index in London closing 0.22% lower, and the CAC 40 Index in Paris closing 0.30% higher. Asian markets ended mostly lower overnight, with the Nikkei 225 Index in Japan closing 2.56% lower, and the Hang Seng Index in Hong Kong closing 0.10% lower.
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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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