February 21, 2014 -- 4:15 p.m. - 02/21/14
The major averages finished with modest losses on the session. The Dow Jones Industrial Average gave up 29 points to 16,103, the S&P 500 fell 3 points to 1836 and the NASDAQ shed 4 points with the index closing at 4263. For the week, the Dow was down 0.3%, the S&P 500 fell less than 0.1% and the NASDAQ advanced more than 0.4%.
Stocks traded in a narrow range throughout the session as investors digested a batch of mixed corporate profit tallies. Todays existing home sales data for January was weaker-than-anticipated, but was largely overlooked as severe winter weather tempered expectations.
On the earnings front, Hewlett-Packard gave up 1.3% to $29.79 despite posting results that were ahead of analysts estimates. Also in the space, shares of Intuit gained 4.6% to $77.24 following their better-than-expected results.
Composite volume on the NYSE was more than 3.3 billion shares with advancing issues besting decliners by a 4-3 margin. The NASDAQ was even on issues.
Turning to fixed income markets, Treasuries were higher along the curve. The benchmark 10-year note was up 3/16 of a point to yield 2.73% and the 30-year bond was higher by over 1/2 of a point to yield 3.69%.
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 Fargo Advisors 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.