April 25, 2014 -- 4:15 p.m. - 04/25/14
Stocks ended the week on a down note. The Dow fell 140 points to 16361. The S&P 500 lost 15 points to 1863 and the NASDAQ declined 72 points to 4075.
Geopolitical concerns pressured equities today as Russia started military drills near the Ukrainian border following the killing of pro-Moscow rebels. Mixed economic data added to investor hesitation. A measure of consumer confidence unexpectedly jumped to a nine-month high in April while an index of business activity in the services sector dropped to the lowest level since last October.
Overall, nine of the 10 S&P 500 sectors finished in negative territory. Consumer discretionary paced the retreat. Amazon.com dropped 9.7% to $304.51 after issuing disappointing current-quarter guidance and Ford lost 3.1% to $15.81 following a weaker-than-anticipated profit tally. Losses in technology and financials also weighed on the market. Broadcom declined 4.5% to $29.75 and Visa fell 4.8% to $199.32 after both companies posted earnings results below analyst estimates. Due to todays losses, the major averages finished lower on the week. The Dow closed with a weekly loss of 0.3%, the S&P 500 gave up less than 0.1% and the NASDAQ lost 0.5%.
NYSE Composite volume totaled more than 3.1 billion shares. On the NYSE, decliners beat advancers by 2-1 on issues and 3-1 on volume. The NASDAQ was 5-1 negative on issues and on volume.
Treasury prices advanced for a third day. The 10-year note gained 3/32 to yield 2.67%. The 30-year bond was up 2/32 to yield 3.45%.
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.