This Day On The Street
Continue to site
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 Mixed in Choppy Session as Market Awaits Earnings Season

NEW YORK ( The Street) -- Major U.S. markets closed mixed as investors awaited the earnings season to kick off.

The S&P 500 settled up 0.03% to 1,838.13, while the Dow Jones Industrial Average was 0.11% lower at 16,444.76. The Nasdaq slid 0.23% to 4,156.19.

  • "The market is becalmed before earnings ... like a sailing ship at sea with no breeze," Lawrence Creatura, portfolio manager at Federated Investors, said in a phone interview. "I think it's reasonable to expect continued growth."
  • Bed Bath & Beyond (BBBY) tumbled 12.5% after it projected earnings that missed estimates. Family Dollar Stores (FDO) and L Brands (LB) fell 2.2% and 4.1% respectively after cutting profit forecasting. Deep discounting failed to help lift December sales for these retailers. Meanwhile, Macy's (M - Get Report) and Costco (COST) jumped after the former's job cut announcement and the latter's robust same-store sales report. Macy's shares ended 7.7% higher at $55.81, while Costco was up 3.9% to $118.51. 
  • Alcoa (AA) and World Alumina agreed to pay $384 million to the U.S. Justice Department and Securities and Exchange Commission to settle bribery allegations linked to a contract with Bahrain's aluminum smelter. Alcoa shares closed 1.4% lower at $10.68. The company reported an adjusted profit of 4 cents a share on revenue of $5.59 billion. Wall Street forecast earnings of 6 cents a share on $5.34 billion.
  • The European Central Bank and Bank of England both left their key interest rates unchanged at current record low levels. 
  • U.S. weekly initial jobless claims for the week of Jan. 4 fell to 330,000, beating expectations of 335,000. Meanwhile job cuts fell to the lowest level of the year in December, according to Challenger, Gray & Christmas. Generally, expectations for Friday's December government job report have been rising especially after ADP private payroll employment data for December beat estimates on Wednesday.
  • Eurozone economic sentiment improved to a 21/2-year high in December, according to the European Commission. German industrial production increased by a greater than expected 1.9% in November.
  • Minneapolis Federal Reserve Bank President Narayana Kocherlakota is set to participate in a public town hall meeting in Minneapolis at 8 p.m. 
  • The Nikkei closed off 1.50% while the Hang Seng finished 0.91% lower. Germany's DAX was falling 0.46% while the London FTSE was 0.55% lower. 
-- By Jane Searle and Joe Deaux in New York

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
JCP $9.66 0.31%
M $40.55 -1.10%
AAPL $94.59 -3.30%
GOOG $689.87 -2.30%
FB $116.70 7.20%


Chart of I:DJI
DOW 17,833.91 -207.64 -1.15%
S&P 500 2,077.13 -18.02 -0.86%
NASDAQ 4,812.3680 -50.7730 -1.04%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs