Join        Login             Stock Quote

Closing Update: Narrowly Mixed Stock Finish As Oil Comes Off Highs

 February 24, 2011 04:36 PM

-NYSE down 16.63 (-0.2%) to 8,276.29 -DJIA down 37.28 (-0.3%) to 12,069

-S&P 500 down 1.30 (-0.1%) to 1,306

-Nasdaq up 14.91 (+0.6%) to 2,738


Hang Seng down 1.34%

Nikkei down 1.19%

FTSE down 0.06%


(+) PCLN continues evening gain after earnings beat.

(+) ROYL continues evening gain that followed new drilling announcement.

(+) TIV reaches favorable litigation settlement.

(+) DPTR among morning actives.

(+) KSS meets on Q4, sets mixed guidance.

(+) TGT lower then improves after disappointing earnings.


(-) GM gains after earnings report.

(-) SLXP says FDA may deem Xifaxan sNDA not ready for approval.

(-) ETFC selling shares.

(-) IDCC misses with Q4 earnings.

(-) CLMT selling shares.


Stock averages end narrowly mixed, with the tech-heavy Nasdaq outperforming the other averages. In a late reversal, crude oil closes lower, having crossed as high as $103 a barrel earlier.

Stocks chopped in mixed trading for much of the session as mixed corporate earnings and continuing Middle East turmoil off-set new economic data showing a drop in weekly and four-week average jobless claims. Durable goods orders rose in line with expectations.

In a late reversal, crude oil futures settled lower. Oil fell back from the 28-month high hit this week as some investors grew concerned the market had run up too far, too fast.

News that Algeria had lifted decades-old political restrictions, coupled with earlier news that Saudi Arabia had announced a $36-billion aid package, soothed some fears of unrest contagion in the Middle East and North Africa, MarketWatch reported. Oil for April delivery fell 82 cents, or 0.8%, to finish at $97.28 a barrel on the New York Mercantile Exchange. It had traded past $103 a barrel earlier.

On the economic front, the Commerce Department reported that orders for U.S.-made durable goods rose 2.7% in January on stronger demand for civilian aircraft. The consensus was for a 2.5% gain, MarketWatch estimated, citing a poll of economists.

Meanwhile, new applications for U.S. unemployment benefits declined last week by 22,000 to 391,000, the Labor Department reported Thursday. Economists polled by MarketWatch had expected initial claims in the week ended Feb. 19 to drop to a seasonally adjusted 405,000 from a revised 413,000 the week before. In addition, the four-week moving average, considered less volatile than weekly claims, fell to more than a two-year low, down 16,500 at 402,000.

Next Page >>123


Comments Closed

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.