This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dow, Nasdaq Lose Ground; S&P 500 Books Slight Gain


NEW YORK ( TheStreet) -- The major U.S. equity averages finished mixed on Thursday with the technology sector weighed down by a 2% slide in Apple (AAPL - Get Report) shares.

The iPhone maker's stock was under pressure after a federal appeals court retracted an injunction banning competitor Samsung from selling its Galaxy Nexus smartphone, despite the ongoing patent dispute between the companies.

Early strength in stocks following a better than expected read on weekly initial jobless claims and a bullish call from Citigroup faded as the afternoon wore on.

The Dow Jones Industrial Average lost 19 points, or 0.14%, to close at 13,326, closing more than 100 points below a high for the day of 13,428. The blue-chip index has now fallen in four straight sessions.

Breadth within the Dow was negative with losers ahead of winners, 18 to 12. The biggest decliners among the blue chips were AT&T (T), Home Depot (HD), Verizon ( VZ), and Walt Disney (DIS).

Dow gainers included Bank of America (BAC), JPMorgan Chase (JPM), and UnitedHealth (UNH).

The big banks got a lift after Bloomberg reported the European Union is considering delaying the deadline for implementing more stringent Basel bank-capital rules.

In addition, The Wall Street Journal reported Douglas Braunstein, JPMorgan's chief financial officer, may step down in the next two quarters. JPMorgan reports its fiscal third-quarter results before Friday's opening bell.

Boeing (BA) shares rose a little less than 1% following news that Alaska Air (ALK) has agreed to buy 50 Boeing 737 aircraft with the ability to purchase an additional 62 aircraft through options and purchase rights.

Shares of Walt Disney dropped 1.7%. Stan Lee Media has filed a lawsuit against the entertainment and media giant over the rights to Marvel characters such as Spider-Man and Iron Man.

The S&P 500 rose less than a point, 0.02%, to close at 1433, breaking its four-day losing streak. The Nasdaq fell more than 2 points, or 0.08%, to settle at 3049.

Most sectors finished in the green, led by energy, consumer cyclicals and basic materials. Technology, services and conglomerates all closed lower.

Advancers outnumbered decliners by a ratio of 1.9-to-1 on the New York Stock Exchange and 1.5-to-1 on the Nasdaq. Volume totaled 3.66 billion on the Big Board and 1.59 billion on the Nasdaq.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $130.28 -1.14%
S $4.65 0.43%
FB $79.19 -1.19%
GOOG $532.11 -1.42%
TSLA $250.80 -0.26%

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs