US Market Finishes Mixed, SP 500 Notches Another Record High, NAS and DJIA Off
GE, BA, GOOG, MSFT, IBB, VIX,
Friday’s session featured disappointing earnings from technology heavyweights, Google (NASDAQ:GOOG) 896.60, -14.08) and Microsoft (NASDAQ:MSFT) 31.40, -4.04, but that could have gone unnoticed if someone were to only focus on the performance of the S&P 500, which ended with a gain of 0.2%, notching a new record high.
The NAS finished lower by 0.7% , earnings and revenue misses from it 2 major components weighed.
The market saw outperformance in, energy, health care, and industrial sectors. The 3 groups added between 1.2% and 1.4% with health care the leader.
The health care sector spent the entire session in a steady rise as bio-technology provided significant support. The iShares Nasdaq Biotechnology ETF (NYSEArca:IBB) 195.00, +3.06)advanced 1.6% after marking a new all-time high.
In the industrial sector was underpinned by Dow component General Electric (NYSE:GE) 24.72, +1.09, rose 4.6% after its earnings beat overshadowed a 3.5% Y-Y decline in revenue.
DJIA member, Boeing (NYSE:BA) 106.96, -0.67, kept industrials from more gainers after 2 more Dreamliners were forced to return to their home ports following in-flight technical issues.
Another commodity-related sector, materials, rose 0.5% as chemical producers and gold miners displayed strength. The Market Vectors Gold Miners ETF (NYSEArca:GDX) 25.86, +1.08 rose 4.4%. Gold futures displayed strength as well, climbing 0.8% to $1294.30 per troy ounce.
The CBOE Volatility Index (VIX) 12.54, -1.23 spent the entire session in a steady decline, dropping to its lowest level since 17 May. After notching its Y 2013 high of 21.91% on24 June, the near-term volatility measure has logged 3 consecutive weekly losses as the S&P 500 climbed to fresh all-time highs.
NYSE trading volume was 872-M/shares, light when taking today’s options expiration into account.
Monday, June existing home sales will be reported at 10:00a EDT.
Latest posts by Paul Ebeling (see all)
- Indonesia’s Central Bank Sees Inflation Easing In August - August 23, 2014
- Chicago Agriculture Commodities Extend Gains - August 23, 2014
- Gold, DXY Rose Friday, Silver, Crude Oil, Nat Gas Fell - August 23, 2014
- US Stocks End Week On A Mixed, Low Volume Note - August 23, 2014
- Bottom 20% Of US Workers Worse Off Now Than In 2000 - August 23, 2014
US Stocks End Week On A Mixed, Low Volume Note ... read more
US Dollar (DXY) Index Rallied On Yellen's Jackson Hole Comments ... read more
Gold, DXY Rose Friday, Silver, Crude Oil, Nat Gas Fell ... read more
A Look Inside Designer Tommy Hilfigers Miami Home Legendary fashion ... read more