Energy And Material Stocks Lead Mixed Day – Acadiana Business Index
- The Dow Jones Industrial Average ended 10 points lower at 13,165 after being up by as many as 24 points in earlier trading. The S&P 500 advanced less than a point to end at 1403 and the NASDAQ gained 7 points to close at 3019.
- Stocks wavered in a narrow range throughout the session as investors digested weak economic news out of China amid better-than-expected trade and unemployment data on our shores.
- Five of the 10 sectors on the S&P finished higher, led by gains in energy and material stocks.
- Shares of Exxon gained 49 cents to $88.20 and Freeport McMoRan advanced 38 cents to $36.00. On the earnings front, shares of Kohl’s fell 64 cents to $51.42 after the company reported a positive earnings result, but came up short of expectations in their same-store sales. On the M&A front, Robbins & Myers rallied $12.83 to $59.63 after National Oilwell Varco announced they were acquiring the company for $60 per share.
- Composite volume on the NYSE was 3.1 billion shares with advancing issues besting decliners by a margin of 7-6. The NASDAQ was 5-4 positive on issues.
- Turning to fixed income, Treasuries were lower on the curve. The Benchmark 10-year notes was down nearly a point and a half to yield 1.70% and the 30-year bond was off 1/16 of a point to yield 2.76%.
For the complete report, click Ken's Market Report.