Investing.com - U.S. stocks were mixed on Wednesday, after a flurry of U.S. economic data while sustained concerns over Greece’s ability to secure a much needed bailout package weighed on sentiment.
During early U.S. trade, the Dow Jones Industrial Average fell 0.15%, the S&P 500 index rose 0.29%, while the Nasdaq Composite index climbed 0.66%.
The Federal Reserve Bank of New York said earlier that its general business conditions index climbed to the highest level since June 2010 in February, improving to 19.5 from 13.5 in January, while a separate report showed that industrial production in the U.S. was unexpectedly flat in January, confounding expectations for a 0.7% increase.
The U.S. Department of the Treasury also said that net foreign purchases of long-term securities totaled USD17.9 billion in December, down from purchases of USD61.3 billion in December. Analysts had expected Treasury International Capital purchases to climb to USD62.3 billion in December.
Meanwhile, investors remained cautious after Reuters reported that European Union officials are looking at ways to delay Greece’s second bailout and still avoid a default amid concerns that political leaders in Athens are not fully committed to implementing harsh austerity measures demanded by international creditors.
U.S. lenders were broadly higher, tracking their European counterparts, as shares in Goldman Sachs climbed 1.34% and Citigroup jumped 0.94%, while JP Morgan and Bank of America added 0.84% and 0.75% respectively.
Meanwhile, Capital One jumped 2.96% after it was approved by the Fed to acquire ING's U.S. online banking unit. The purchase will mark the biggest U.S. bank deal since the Dodd-Frank law of 2010 mandated stricter merger reviews.
Elsewhere, Comcast rallied 5.80% after the parent company of NBCUniversal reported earnings of 47 cents a share while hiking its dividend and announcing a share buyback program.
Kellogg also added to gains, with shares surging 3.52% after the company said it will acquire the Pringles business division from Procter & Gamble for USD2.7 billion, after P&G ended its deal with troubled food producer Diamond Foods.
Energy stocks were on the downside, however, as shares in 3M Co plunged 1.16%, Chevron tumbled 1.01% and Exxon Mobil fell 0.25%.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 rose 0.25%, France’s CAC 40 advanced 0.37%, Germany's DAX added 0.43%, while Britain's FTSE 100 fell 0.10%.
During the Asian trading session, Hong Kong's Hang Seng Index surged 2.1%, while Japan’s Nikkei 225 Index rallied 2.3%.
Also Wednesday, the Federal Reserve said that its capacity utilization rate rose slightly less-than-expected in January, rising to 78.5% after a reading at 78.6% the previous month. Analysts had expected the rate to rise to 78.6% in January.
Later in the day, the Fed was to publish the minutes of its most recent policy meeting.
During early U.S. trade, the Dow Jones Industrial Average fell 0.15%, the S&P 500 index rose 0.29%, while the Nasdaq Composite index climbed 0.66%.
The Federal Reserve Bank of New York said earlier that its general business conditions index climbed to the highest level since June 2010 in February, improving to 19.5 from 13.5 in January, while a separate report showed that industrial production in the U.S. was unexpectedly flat in January, confounding expectations for a 0.7% increase.
The U.S. Department of the Treasury also said that net foreign purchases of long-term securities totaled USD17.9 billion in December, down from purchases of USD61.3 billion in December. Analysts had expected Treasury International Capital purchases to climb to USD62.3 billion in December.
Meanwhile, investors remained cautious after Reuters reported that European Union officials are looking at ways to delay Greece’s second bailout and still avoid a default amid concerns that political leaders in Athens are not fully committed to implementing harsh austerity measures demanded by international creditors.
U.S. lenders were broadly higher, tracking their European counterparts, as shares in Goldman Sachs climbed 1.34% and Citigroup jumped 0.94%, while JP Morgan and Bank of America added 0.84% and 0.75% respectively.
Meanwhile, Capital One jumped 2.96% after it was approved by the Fed to acquire ING's U.S. online banking unit. The purchase will mark the biggest U.S. bank deal since the Dodd-Frank law of 2010 mandated stricter merger reviews.
Elsewhere, Comcast rallied 5.80% after the parent company of NBCUniversal reported earnings of 47 cents a share while hiking its dividend and announcing a share buyback program.
Kellogg also added to gains, with shares surging 3.52% after the company said it will acquire the Pringles business division from Procter & Gamble for USD2.7 billion, after P&G ended its deal with troubled food producer Diamond Foods.
Energy stocks were on the downside, however, as shares in 3M Co plunged 1.16%, Chevron tumbled 1.01% and Exxon Mobil fell 0.25%.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 rose 0.25%, France’s CAC 40 advanced 0.37%, Germany's DAX added 0.43%, while Britain's FTSE 100 fell 0.10%.
During the Asian trading session, Hong Kong's Hang Seng Index surged 2.1%, while Japan’s Nikkei 225 Index rallied 2.3%.
Also Wednesday, the Federal Reserve said that its capacity utilization rate rose slightly less-than-expected in January, rising to 78.5% after a reading at 78.6% the previous month. Analysts had expected the rate to rise to 78.6% in January.
Later in the day, the Fed was to publish the minutes of its most recent policy meeting.