(MENAFN- ProactiveInvestors) Wall Street fluctuated today as investors digested a mixed bag of quarterly earnings results and assessed signs of softness in the U.S. economy. Energy companies rallied with oil prices while tech companies slumped before Corp. results.
The S&P 500 (INDEXSP:.INX) rose 0.2 percent to 2096 at 3:38 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) added 0.4 percent to 18047 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) slipped 0.3 percent to 4976.
DATA:
In March retail sales rose a seasonally adjusted 0.9 percent the Commerce Department reported today. This is the strongest gain in a year. However the increase was slightly lower than the 1.1 percent gain forecast of economists polled by MarketWatch.
The Producer Price Index (PPI) showed an increase of 0.2 percent in March in line with expectations and breaking four consecutive months of declines.
MOVERS:
() climbed 2.4 percent as oil rose for a fourth day.
JPMorgan Chase () rose 1.9 percent to $63.23 as the biggest U.S. bank posted quarterly profit that topped analysts’ estimates as revenue from bond trading improved.
Wells Fargo () fell 0.5 percent to $54.28 as its first-quarter profit fell 1.5 percent. The nation’s fourth-largest bank by assets continued to face pressure on its lending margins.
General Motors () added 0.3 percent to $36.51 after the largest U.S. automaker said it was raising its second-quarter dividend payout to 36 cents a share to reward investors amid a brightening financial outlook.
ADRs of () fell 4.4 percent to $7.93. The Finnish technology company is in talks to buy (NYSE:ALU) a deal that would combine the telecom industry's two weakest players but could pose challenges in cutting costs and overcoming political opposition. ADRs of Alcatel jumped 13.3 percent to $4.93.
() edged up 0.7 percent to $384.85. The e-commerce company has reached a multi-year publishing deal with .-owned () HarperCollins according to the Wall Street Journal.
COMMODITIES:
Gold for June delivery on Comex fell 0.6 percent to end at $1192.60 an ounce—the lowest futures price settlement since March 31.
West Texas Intermediate for May delivery settled at $53.29 a barrel up 2.7 percent on the New York Mercantile Exchange.
OTHER MARKETS:
European stocks dropped today overtaken by worries about Greece’s persistent debt troubles. The Stoxx Europe 600 closed down by 0.5 percent. Germany’s DAX 30 fell 0.9 percent to 12227.60. France’s CAC 40 fell 0.7 percent to 5218.06.
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