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U.S stocks reverse losses and gain on earnings, data; Dow rises 0.02%

Stock MarketsJul 26, 2013 04:31PM ET
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Investing.com - U.S. stocks erased roughly 150 points of losses on Friday and finished the session higher mainly as traders bought and sold shares on earnings reports.

A better-than-expected consumer sentiment index brought in the buyers later in the session as well.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.02%, the S&P 500 index rose 0.08%, while the Nasdaq Composite index rose 0.22%.

Starbucks and Facebook released earnings that beat expectations though disappointments elsewhere pushed shares down earlier in the trading day.

Many investors remained on the sidelines before a busy next week, which will see the release of the July jobs report as well as a Federal Reserve monetary policy meeting.

Earlier Friday, the Thomson Reuters/University of Michigan consumer sentiment rose more than expected in July, hitting 85.1 from 83.9 in June.

Analysts had expected the index to rise to 84.0 this month.

The report also said that inflation expectations fell to 3.1% this month, from 3.3% in June, though investors took their time digesting the data before jumping into the market late in the session.

Leading Dow Jones Industrial Average performers included Intel, up 0.82%, The Travelers Companies, up 0.80%, and Walt Disney, up 0.68%.

The Dow Jones Industrial Average's worst performers included Boeing, down 1.03%, Hewlett-Packard, down 0.91%, and JPMorgan Chase, down 0.80%.

European indices, meanwhile, finished mixed.

After the close of European trade, the EURO STOXX 50 rose 0.06%, France's CAC 40 rose 0.32%, while Germany's DAX 30 finished down 0.65%. Meanwhile, in the U.K. the FTSE 100 finished down 0.50%.














U.S stocks reverse losses and gain on earnings, data; Dow rises 0.02%
 

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