Weather Alert

Patchy Freezing Drizzle Possible Through the Remainder of the Night

The main surge of steady mixed wintry precipitation has moved out of the region with a potential for some periods of freezing drizzle through the remainder of the night glazing untreated and elevated surfaces.  Temperatures will continue to slowly rise overnight, likely into the lower 30s towards daybreak, with much improved travel conditions for the Wednesday morning commute.

WEATHER ALERT

May 16, 2014 -- 4:15 p.m. - 05/16/14

Stocks ended the week on a positive note. The Dow rose 44 points to 16491. The S&P 500 advanced 7 points to 1877. The NASDAQ gained 21 points to 4090.

After toggling between gains and losses for a majority of todays session the major averages finished higher thanks to an afternoon rally. On the economic front, the University of Michigan consumer confidence survey unexpectedly dropped this month from a nine-month high. On the upside, housing starts surprisingly jumped in April to the highest level since last November and building permits also increased more than anticipated.

Nine of the 10 S&P 500 sectors advanced. Telecommunications and consumer staples were the best performing groups. Verizon rallied 2.3% to $49.05. Altria added 1.4% to $40.61. Late gains in technology also helped lift the market as Apple jumped 1.2% to $596.12. Energy was the only sector that closed in negative territory, led by Chesapeake Energys 4.7% drop to $27.62. Despite todays gains, the Dow snapped a two-week winning streak as it declined 0.6%. The S&P 500 was down less than 0.1% on the week while the NASDAQ managed to finish with a weekly gain 0.5%.

NYSE Composite volume totaled more than 3.1 billion shares. On the NYSE, advancers beat decliners by 2-1 on issues and 5-3 on volume. The NASDAQ was 8-5 positive on issues and 5-3 positive on volume.

Treasuries fell for the first time in four days. The 10-year note declined 9/32 to yield 2.52%. The 30-year bond lost 12/32 yield 3.34%.

 

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