February 25, 2014 -- 4:15 p.m. - 02/25/14
Stocks finished modestly lower on Tuesday. The Dow fell 27 points to 16179. The S&P 500 declined 2 points to 1845. The NASDAQ was down 5 points to close at 4287.
The major averages experienced a choppy trading session as investor's weighed today's economic and corporate profit releases. Before the open, a report showed home prices rose at slower pace in December. A separate release revealed consumer confidence declined more than projected in February. On the earnings front, Home Depot added 4% to $80.98 after posting quarterly results above consensus and announced a dividend increase. Tenet Healthcare dropped 9.1% to $43.93 after reducing full-year forecast.
Seven of 10 sectors in the S&P 500 were down on the session. Financials and industrials were the worst performing groups. JP Morgan lost 1.7% to $57.03. Shares of Boeing fell 2.2% to $126.78. Tech also declined with Facebook slipping 1.3% to $69.85 and Apple shedding 1% to $522.06. Consumer discretionary was the best performing group as retailers advanced. In addition to Home Depot, Macy's jumped 6% to $56.25 following its earnings release. Shares of GameStop gained 6.7% to $38.47.
Breadth was negative on issues by 6-5 on the NYSE and 3-2 on the NASDAQ. Composite volume on the NYSE totaled 3.4 billion shares.
Treasuries were higher on the session after the Conference Board reported a decline in consumer confidence this month. Benchmark 10-year notes rose 10/32 to yield 2.70%.
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.