March 12, 2014 -- 4:15 p.m. - 03/12/14
Stocks finished mixed on Wednesday. The Dow lost 11 points to 16340. The S&P 500 closed virtually unchanged at 1868. The NASDAQ snapped a four-day losing streak as it gained 16 points to 4323.
Equities spent the day toggling between gains and losses as investors continued to monitor the situation in Ukraine while fears of a growth slowdown in China lingered.
Overall, sectors finished mixed. Industrials and telecommunications were the worst performing groups. General Electric fell 0.6% to $25.75. Frontier Communications lost 2% to $4.80. Consumer stocks were also under pressure. Shares of Coca-Cola declined 0.2% to $38.45. Express dropped 12.5% to $15.97 after the retailer delivered a weaker than expected sales and profit outlook. The more defensive utilities sector closed higher, led by Duke Energys 1.2% advance to $70.33. Technology stocks also gained ground, helping lift the NASDAQ. Microsoft rose 0.7% to $38.29 and Facebook jumped 1.1% to $70.84.
NYSE Composite volume totaled more than 3.2 billion shares. The NYSE was 7-5 positive on issues and 8-7 positive on volume. On the NASDAQ, advancers beat decliners by 4-3 on issues and 7-4 on volume.
Treasury prices rose for a third day and a government auction of 10-year debt attracted the highest demand in a year. The 10-year note increased 12/32 to yield 2.72%. The 30-year bond gained 25/32 to yield 3.66%.
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.