This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dow Posts First Weekly Decline Since June

Stocks in this article: ^DJI ^GSPC ^IXIC PCLN JCP

NEW YORK ( TheStreet) -- The Dow Jones Industrial Average booked its first weekly decline in seven weeks as traders retreated from major U.S. stock markets.

"People are waiting for something different and you're not getting it right now," said Aaron Izenstark, chief investment officer of IRON Financial. "You're getting this continued plod-along, slow growth ... so as a whole things are improving. The question is, can the market move forward without the Federal Reserve ?"

The S&P 500 slid 0.36%, to 1,691.41 as the benchmark index booked its largest one-week drop since the week ended June 21, when stocks fell 2.1%. The S&P fell 1.07% on the week.

The Dow Jones Industrial Average lost 0.47% to 15,425.51. The blue-chip index lost 1.49% this week. The Nasdaq dropped 0.25% to 3,660.11, while the tech-heavy index declined 0.8% over the past five trading sessions.

Economic data was light for Friday as June wholesale inventories dipped 0.2%, which followed a 0.5% dip in May. Economists polled by Thomson Reuters were expecting inventories to rise 0.4%.

Priceline (PCLN) was an exception to an otherwise slumbering market, advancing 3.9% to close at $969.89 after the online travel company beat earnings expectations on a surge in bookings. The company posted second-quarter earnings of $9.70 a share on $1.68 billion in revenue, while analysts were looking for $9.36 a share on revenue of $1.66 billion.

J.C. Penney (JCP) was the biggest percentage loser on the S&P as shares plunged 5.8% to $12.87. Shares of the retailer jumped 6.7% on Thursday following a report that activist billionaire investor Bill Ackman was urging the board to replace CEO Myron Ullman.

European markets were mixed on Friday. The FTSE 100 in London increased 0.82%, and the DAX in Frankfurt closed higher by 0.24%. Asian markets closed higher overnight. Japan's Nikkei average closed up 0.7% at 13,615. Hong Kong's Hang Seng climbed 0.7% to 21,808.

The benchmark 10-year was lifting 4/32, diluting the yield to 2.578%. The dollar was adding 0.14%, according to the U.S. dollar index .

-- Written by Joe Deaux in New York.

>Contact by Email.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs