U.S. Stocks Give Back Earlier Gains, Close Mixed

U.S. equities gave back the majority of their earlier gains to close mixed to lower yesterday as traders digested the economic data and earnings that could not be assessed during the unprecedented two-day closure of the U.S. exchanges due to Hurricane Sandy.

In light of the anticipated volume surge after the early week closure, trading appears to be taking place in a smooth and orderly fashion, with no major glitches reported.

Trading had started on a positive note, tracking European markets higher while some recent earnings reports out of major companies including Ford (F) and BP (BP) added upside impetus.

Lending early support to the market's up move was a solid reading in the S&P Case-Shiller index for August which showed home prices rising for a fifth consecutive month. The data were released while markets were closed.

Also released yesterday, was the Chicago PMI. The PMI edged up in October to 49.9% from 49.7% in the prior month, but remained below the key 50% mark for the second straight month.

Commodities finished were mostly higher, crude-oil futures added 56 cents, or 0.7%, to close at $86.24 a barrel on the New York Mercantile Exchange. Gold for December delivery rose $7, or 0.4%, to finish at $1,719.10 an ounce on the Comex division of the New York Mercantile Exchange.

Here's where the markets stood at end-of-day:

Dow Jones Industrial Average down 10.67 (-0.08%) to 13,096.54

S&P 500 up 0.22 (+0.02%) to 1,412.16

Nasdaq Composite Index down 10.72 (-0.36%) to 2,977.23

GLOBAL SENTIMENT:

Nikkei 225 Index up 0.97%

Hang Seng Index up 1%

Shanghai China Composite Index down 01.69%

FTSE 100 Index down 0.77%

DAX up 0.04%

CAC 40 up 0.33%

UPSIDE MOVERS:

(+) RRGB, Shares rise after company's Q3 results trump analyst views.

(+) NFLX, Shares rally after Carl Icahn reports nearly 10% stake in company.

(+) ARWR, Shares surge after company announces positive study results on lead product candidate.

DOWNSIDE MOVERS:

(-) WU, Stock telegraphing large losses after company reports weak results and issues downside guidance.

(-) BCRX, Share price crumbles after company announces that it is withdrawing its Investigational New Drug application for its antiviral nucleoside, BCX5191, after the U.S. Food and Drug Administration (FDA) raised concerns related to the drug's preclinical toxicity profile.

(-) OIIM, Shares touch new year low after company reports wider than anticipated earnings loss.