(By Salman - iStockAnalyst Writer)US stocks closed mostly higher on Friday and Dow entered positive territory for 2009 for the first time since January.
The Dow Jones Industrial Average rose 28.34 points or 0.32% to finish at 8,799.26. The S&P 500 climbed 1.32 points or 0.14% to end at 946.21. The Nasdaq Composite fell 3.57 points or 0.19% to 1,858.80.
According to the Labor Department, prices paid for goods and services imported into the United States jumped 1.3% in May due to higher crude oil prices.
A release by the University of Michigan and Reuters on Friday showed consumer sentiment index rose to 69 in mid-June from 68.7 in May. Economists were expecting a June reading of 71.
Shares of Bank of America (NYSE:
BAC) jumped 75 cents or 5.78% to $13.72.
Microsoft (NASDAQ:
MSFT) rose 50 cents or 2.19% to $23.33. Meanwhile, The Wall Street Journal reported that the software giant won't offer a Web browser in its next version of Windows in Europe. Hewlett Packard (NYSE: HPQ) surged 53 cents 1.42% to $37.76.
Among energy stocks, Chevron Corp. (NYSE:
CVX) gained 77 cents or 1.07% to end at $72.67.
Shares of Boeing Co. (NYSE:
BA) increased 78 cents or 1.54% to end at $51.44.
On the downside, Alcoa Inc. (NYSE:
AA) dropped 23 cents or 1.88% to $11.99.
American Express Co. (NYSE:
AXP) declined 47 cents or 1.83% to $25.16.
IBM (NYSE:
IBM) lost $1.19 or 1.09% to $108.21.
Late on Thursday, BlackRock Inc. (NYSE:
BLK) agreed to buy Barclays Global Investors in a $13.5 billion cash-and-shares deal tha will create the world's biggest asset manager. Shares of Blackrock finished at 4 cents or 3.31% to $176.56.
Life insurer Hartford Financial Services Group Inc. (NYSE:
HIG) announced on Friday that it plans to sell up to $750 million in common stock and that it's going to participate in the U.S. Treasury's Capital Purchase Program, subject to completion of documentation with the U.S. Treasury. Hartford plunged $1.13 or 8.03% to $12.95.
National Semiconductor Corp. (NYSE:
NSM) on Thursday reported that it swung to fiscal fourth quarter loss of $63.7 million, or 28 cents a share, compared to $83.2 million, or 34 cents a share, in the year ago period. Revenue plunged to $281 million from $462 million. Shares of the company tumbled 88 cents or 6.08% to $13.59.
British banking giant HSBC Holdings (NYSE:
HBC) said Friday that it has sold its 49% stake in HSBC Merchant Services to its partner in the card processing joint venture Global Payments Inc. for $307.7 million.
Yahoo! Inc. (NASDAQ:
YHOO) on Thursday named longtime General Electric Co. (NYSE: GE) veteran Tim Morse as its new chief financial officer.
European stocks settled lower. The UK FTSE retreated 19.92 points or 0.45% to 4,441.95. The German DAX and French CAC decreased 0.74% and 0.26% respectively.
Asian stocks finished with gains. The Nikkei 225 rose 154.49 points or 1.55% to 10,135.82. The Hang Seng index of Hong Kong added 98.65 points or 0.52% to end at 18,889.83.
NYMEX crude oil for July delivery declined 64 cents or 0.9% to settle at $72.04 a barrel.
Disclosure: Author does not own any of the stocks discussed here.
