May 13, 2014 -- 4:15 p.m. - 05/13/14

Stocks finished little changed on Tuesday. The Dow rose 20 points to close at an all-time high of 16715. The S&P 500 briefly climbed above 1900 before ending the session up a point to a record level of 1897. The NASDAQ declined 14 points to 4130.

The major averages were mixed as investors weighed a reading on the consumer. Before the open, retail sales rose a less-than-projected 0.1% in April while the March reading was unexpectedly revised higher to 1.5%. Additional releases showed small business sentiment improved last month and import prices fell 0.4%.

On the earnings front, medical supply wholesaler McKesson gained 3.3% to $179.95 after quarterly profits beat estimates. Rackspace jumped 8.5% to $29.88 following its better-than-expected results.

Energy and consumer staples were the best performing sectors. Chevron was up 0.5% to $125.85. Keurig Green Mountain climbed 7.6% to $119.07 after Coca-Cola said it plans to increase its stake in the company to 16% from 10%. Homebuilders rose with D.R. Horton increasing 2.2% to $23.07 after the FHFA Director announced plans to make it easier for consumers to obtain mortgages. Telecom was down the most on the session. AT&T fell 1% to $36.20 on reports the company is in talks to buy DirecTV for approximately $50 billion.

Breadth was negative on issues by 5-4 on the NYSE; 2-1 on the NASDAQ. NYSE Composite volume totaled more than 2.8 billion shares.

Treasuries advanced with benchmark 10-year note up 15/32 to yield 2.61%.

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.

 

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