U.S. stocks closed mixed, Monday, with the Dow pulling back from its record-setting run last week despite data showing April retail sales were better than economists had forecast. Stock futures were lower prior to the release of the data, spooked by weekend chatter that the Fed may start winding down its bond-buying program sooner than expected.
Late Friday, The Wall Street Journal published an article claiming that Fed officials have mapped out their plan to exit the bond-buying program. According to Fed officials, the timing on when to start scaling back bond purchases remains a subject of debate.
U.S. Data
Economic data released, Monday, included the retail sales. Pre-bell, the Commerce Department reported that retail sales rose a seasonally adjusted 0.1% last month. Economists polled by MarketWatch had forecast a 0.6% decline in retail sales. Also reported, at 10:00 a.m. ET, business inventories were released. They came in at 0.0% in March, vs. analyst expectations for a 0.03% gain.
Overseas, European stocks finished mixed.
Commodities finished mostly lower. Gold futures fell 0.2% to close at $1,434.30 per ounce, their third straight session to finish lower. Gold has now lost 2.7% in the past three sessions. Crude oil for June delivery lost 0.9% to end at $95.13 a Barrel
Here's Where The Markets Stood At Day's End
- Dow Jones Industrial Average down 26.81 (-0.18%) to 15,091.68
- S&P 500 up 0.07 (+0.00%) to 1,633.77
- Nasdaq Composite Index up 2.21 (+0.06%) to 3,438.79
- Nikkei 225 up 1.19%.
- Hang Seng Index down 1.42%.
- Shanghai China Composite Index down 0.22%.
- FTSE 100 down 0.13%.
- DAX down 0.38%.
- CAC 40 down 0.64%.
- (+ ) TGX, Said it has received a buyout offer from Juniper Investment Company, LLC for $2.25 to $2.30 per share in cash.
- (+) TSLA, Hits new 52-week high. Shares rise to new 52-week top of $86.98 in the afterglow of last week's expectations-busting quarterly results. Last Wednesday Tesla posted its first quarterly profit, besting the analyst consensus.
- (+) PERI, Reported Q1 earnings of $0.45 per share, ex one-time items, versus the Capital IQ consensus of $0.37. Revenues were $27.6 million, versus the analyst estimate of $24.06 million.
- (+) MVIS, Shares climb after the maker of ultra-miniature projection display technology, said it had been informed by Nasdaq that it has regained compliance with the exchange's listing requirements.
- (-) ENDP, Says the U.S. Food and Drug Administration (FDA) has denied a citizen petition filed by its subsidiary, Endo Pharmaceuticals Inc. Endo in part asked the FDA to suspend the approvals of generic formulations of OPANA ER currently on the market on the grounds that the original OPANA was withdrawn from the market for safety reasons.
- (-) CEL, Israel-based telecommunications company reported Q1 earnings of ILS 0.67 or $0.19 per share, compared with the single analyst estimate of ILS 1.23 or $0.34. Revenues were ILS 1.26 billion or $349.7 million, down 20.6% from the same period last year, versus the single analyst estimate of ILS 1.43 billion or $396.9 million.
- (-) MTL, Reported a 13% increase in its coking coal sales for Q1 versus the prior quarter. Year-over-year, coking coal sales decreased 11%. Anthracite sales increased by 19%, PCI sales by 13%, and steam coal sales by 9%, versus the prior quarter. The company however said coal production decreased compared to the previous quarter "due to less favorable conditions of open pit mining in cold winter months."
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