US shares eked out a choppy trading session on Wednesday barely higher, snipping most of the gains after a better than expected report on new home sales.
The S&P 500 index lead the 1,850 level in each of the last three sessions, but again flopped to retain above that level into the bell. The benchmark gauge traded in and out of affirmative territory in the last hour of trading and ended virtually unchanged at 1,845.16. The Dow Jones Industrial Average finished the session 18.75 points or 0.1%, higher at 16,198.41, with almost two thirds of its components ending higher. The Nasdaq Composite concluded 4.48 points or 0.1%, greater at 4,292.06.
Stocks were elevated from a new home sales report, which reflected a 9.6% gain in sales in January to a seasonally modified annual rate of 468,000 above predictions for 405,000. In markets outside the US, it was a choppy day in Asia. Japan’s Nikkei closed down 0.5% but Hong Kong Hang Seng index profited 0.5%. European stocks were in the red as Stoxx 600 moved back from a six-year peak hit in the previous session.
Among individual stocks, Target Corp. leaped 7% as investors soothed its 4th quarter report, while rival Wal-Mart gained 2% despite news Sam’s Club business was testing an online subscription service as the peril from Amazon.com Inc. develops. Lowe’s Companies shares surged 5.2% after the second home-improvement retailer posted a gain in 4th quarter profit and further share buybacks.
Newfield Exploration Company shares bounced 7.3% following its 4th quarter results surpassed estimates. J.C. Penney shares increased 4% in aftermarket after the retailer’s quarterly results. The company deviated into profit in the 4th quarter and an altered loss was less than anticipated.
On the other hand, First Solar Inc. dived 9.1% following the company listed quarterly earnings late Tuesday that went short of Wall Street postulations.
The material has been provided by InstaForex Company – www.instaforex.com
US shares eked out a choppy trading session on Wednesday barely higher, snipping most of the gains after a better than expected report on new home sales.
The S&P 500 index lead the 1,850 level in each of the last three sessions, but again flopped to retain above that level into the bell. The benchmark gauge traded in and out of affirmative territory in the last hour of trading and ended virtually unchanged at 1,845.16. The Dow Jones Industrial Average finished the session 18.75 points or 0.1%, higher at 16,198.41, with almost two thirds of its components ending higher. The Nasdaq Composite concluded 4.48 points or 0.1%, greater at 4,292.06.
Stocks were elevated from a new home sales report, which reflected a 9.6% gain in sales in January to a seasonally modified annual rate of 468,000 above predictions for 405,000. In markets outside the US, it was a choppy day in Asia. Japan’s Nikkei closed down 0.5% but Hong Kong Hang Seng index profited 0.5%. European stocks were in the red as Stoxx 600 moved back from a six-year peak hit in the previous session.
Among individual stocks, Target Corp. leaped 7% as investors soothed its 4th quarter report, while rival Wal-Mart gained 2% despite news Sam’s Club business was testing an online subscription service as the peril from Amazon.com Inc. develops. Lowe’s Companies shares surged 5.2% after the second home-improvement retailer posted a gain in 4th quarter profit and further share buybacks.
Newfield Exploration Company shares bounced 7.3% following its 4th quarter results surpassed estimates. J.C. Penney shares increased 4% in aftermarket after the retailer’s quarterly results. The company deviated into profit in the 4th quarter and an altered loss was less than anticipated.
On the other hand, First Solar Inc. dived 9.1% following the company listed quarterly earnings late Tuesday that went short of Wall Street postulations.
The material has been provided by InstaForex Company – www.instaforex.com
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