April 11, 2014 — 4:15 p.m. ET - 04/11/14
Stocks extended their losing streak on Friday. The Dow fell 143 points to 16026. The S&P 500 declined 17 points to 1815. The NASDAQ finished 54 points lower at 3999. The major averages ended the week on a down note amid disappointment in JP Morgans earnings. Shares of largest U.S. bank fell 3.7% to $55.30 after reporting a 19%decline in first-quarter profits. Fastenal was 1.7% lower at $49.86 after posting earnings results matching analyst estimates. On the economic front, the producer price index unexpectedly rose 0.5% in March versus a projected 0.1% increase. The University of Michigan preliminary reading onconsumer sentiment improved in April. All 10 sectors in the S&P 500 were down on the session. Consumer discretionary, financials and tech were the worst performing groups. TripAdvisor dropped 3.6% to $78.99.Genworth Financial lost 3.9% to $16.00. Shares of Apple closed 0.7% lower at $519.61. The defensive utility sector was the best performing. Shares of Public Service Enterprises gained 0.8% to $38.81. Breadth was negative on the NYSE by a 5-2 margin on issues and 4-1 on volume. NYSE Composite volume totaled 3.7 billion shares. The NASDAQ was 4-1 negative on issues;6-1 on volume. Treasuries were higher with the benchmark 10-year note gaining 6/32 to yield 2.63%. With todays decline, the major averages ended the week firmly in negative territory. The Dow was down 2.4%.The S&P 500 fell 2.7% while the NASDAQ retreated 3.1%. This information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by Wells Fargo Advisors.Wells FargoAdvisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company.