March 21, 2014 -- 4:15 p.m - 03/21/14
Stocks faded into the closing bell. The Dow Jones Industrial Average ended 28 points lower at 16,302.14 after being up by as many as 125 points earlier. The S&P 500 gave up 5 points to 1866 after touching a new all-time intraday high. The NASDAQ shed 42 points with the index closing at 4276.
For the week, the Dow gained 1.4%, the S&P 500 added 1.3% and the NASDAQ advanced 0.7%. Equities were volatile as investors focused on quadruple witching and lingering geopolitical concerns.
Sector action on the S&P was mixed. Healthcare stocks were under pressure on weakness in biotechs. Shares of Gilead Sciences led the space lower, down 4.6% to $72.07 as the U.S. House Energy and Commerce committee asked for details surrounding the pricing of its hepatitis C drug. On the earnings front, shares of Nike fell 5.1% to $75.21 and Darden restaurants advanced 2.7% to $50.65 following their quarterly profit tallies.
Composite volume on the NYSE was 5 billion shares with advancing issues besting decliners by a 7-5 margin. The NASDAQ was 9-7 negative on issues.
Turning to fixed income markets, Treasuries ended higher along the curve. The benchmark 10-year note was up 7/32 to yield 2.75% and the 30-year bond added 29/32 to yield 3.61%.
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.