US stock posted a fourth straight week of increases but ended Friday little changed as losses in healthcare shares offset gains in energy. Apple shares rose 1.2 percent to USD 114.18, another record high. The stock lifted the Nasdaq, which outperformed other indexes.
Apple shares rose 1.2 percent to USD 114.18, another record high. The stock lifted the Nasdaq, which outperformed other indexes. Biotech stocks were among biggest decliners in the S&P health care index, which fell 0.8 percent and was the biggest drag on the S&P 500. Gilead fell 2.1 percent to USD 102.06, while Biogen Idec lost 3.9 percent to USD 305.43 and was the biggest percentage decliner on both the S&P 500 and Nasdaq.
The S&P 500, which hasn’t made a 1 percent move this month, is now up 10.4 percent for the year. “Most portfolio managers are lagging the indices and there are going to be some aggressive efforts to make up for performance in the next six weeks. Those that are under invested are going to want to be more invested,” said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
“The market will either tread water or move higher from here to the end of the year” barring a huge drop in oil prices, he said. The Dow Jones industrial average fell 18.05 points, or 0.1 percent, to 17,634.74, the S&P 500 gained 0.49 points, or 0.02 percent, to 2,039.82 and the Nasdaq Composite added 8.40 points, or 0.18 percent, to 4,688.54.
Volume was again light. About 6 billion shares changed hands on US exchanges, below the 6.5 billion average this month, according to BATS Global Markets. NYSE advancers outnumbered decliners 1,618 to 1,452, for a 1.11-to-1 ratio on the upside; on the Nasdaq, 1,380 issues fell and 1,309 advanced for a 1.05-to-1 ratio favoring decliners. The S&P 500 posted 27 new 52-week highs and four new lows; the Nasdaq Composite recorded 65 new highs and 53 new lows.
Coustery : http://www.moneycontrol.com/news/international-markets/wall-street-posts-gains-for-fourth-week-ends-flat-for-day_1229362.html
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Wall Street posts gains for fourth week; ends flat for day
Apple shares rose 1.2 percent to USD 114.18, another record high. The stock lifted the Nasdaq, which outperformed other indexes. Biotech stocks were among biggest decliners in the S&P health care index, which fell 0.8 percent and was the biggest drag on the S&P 500. Gilead fell 2.1 percent to USD 102.06, while Biogen Idec lost 3.9 percent to USD 305.43 and was the biggest percentage decliner on both the S&P 500 and Nasdaq.
The S&P 500, which hasn’t made a 1 percent move this month, is now up 10.4 percent for the year. “Most portfolio managers are lagging the indices and there are going to be some aggressive efforts to make up for performance in the next six weeks. Those that are under invested are going to want to be more invested,” said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
“The market will either tread water or move higher from here to the end of the year” barring a huge drop in oil prices, he said. The Dow Jones industrial average fell 18.05 points, or 0.1 percent, to 17,634.74, the S&P 500 gained 0.49 points, or 0.02 percent, to 2,039.82 and the Nasdaq Composite added 8.40 points, or 0.18 percent, to 4,688.54.
Volume was again light. About 6 billion shares changed hands on US exchanges, below the 6.5 billion average this month, according to BATS Global Markets. NYSE advancers outnumbered decliners 1,618 to 1,452, for a 1.11-to-1 ratio on the upside; on the Nasdaq, 1,380 issues fell and 1,309 advanced for a 1.05-to-1 ratio favoring decliners. The S&P 500 posted 27 new 52-week highs and four new lows; the Nasdaq Composite recorded 65 new highs and 53 new lows.
Coustery : http://www.moneycontrol.com/news/international-markets/wall-street-posts-gains-for-fourth-week-ends-flat-for-day_1229362.html
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