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

Dow, S&P 500 Close Little Changed as Wal-Mart Dominates Gains

NEW YORK (TheStreet) -- U.S. stock indices closed little changed after January's new home sales beat expectations, with retailers from Wal-Mart (WMT) to Lowe's (LOW - Get Report) dominating gains.

  • The S&P 500 (^GSPC) effectively finished unchanged at 1,845.16, while the Dow Jones Industrial Average (^DJI) gained 0.13% to close at 16,200.34. The Nasdaq was up 0.1% to 4,292.06.
  • New home sales increased 9.6% to a higher-than-expected seasonally adjusted annual rate of 468,000 in January, from an upwardly revised 427,000 in December. The January reading was the highest since July 2008.
  • Retailers dominated gains in afternoon trading. Target (TGT - Get Report) shares rose 7% after it posted fourth-quarter earnings of 81 cents a share against estimates of 79 cents, signaling the regaining of customer loyalty after a data breach affected tens of millions of shoppers at the peak of the holiday season. Abercrombie & Fitch (ANF) increased 11.3% after posting fourth-quarter profit that topped analysts' estimates and saying it would buy back $150 million in shares in the current quarter. Wal-Mart added 2% after saying its Mexican unit would return 22 billion Mexican pesos ($1.66 billion) to shareholders via dividends and share repurchases in 2014. Lowe's  was 5.4% higher after reporting a 5.6% increase in sales to $11.66 billion in the fourth quarter.
  • In other stock news, LinkedIn (LNKD) was up 1.3% after the stock was raised to an "outperform" rating from "sector perform" by RBC Capital and the company launched a Chinese language site. Anheuser-Busch InBev (BUD) increased 1.6% after posting fourth-quarter earnings of $1.46 a share compared with the average analyst estimate of $1.32. Dreamworks Animation (DWA) plunged 12.2% after being downgraded by Piper Jaffray to "underweight" from "neutral" as its fourth-quarter results fell short of Wall Street estimates.
  • European markets were mostly lower amid tepid earnings reports. Germany's DAX was off 0.39% while the FTSE was down 0.46% after data showed U.K. GDP rose 0.7% in the fourth quarter, in line with expectations. The economy expanded by 1.8% over the year down from a previously estimated 1.9%. In Asia, the Nikkei closed 0.54% lower while the Hang Seng was 0.54% higher.

WATCH: Strong Housing Data Helps Bulls Hang On

-- By Andrea Tse, 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
LOW $75.40 0.01%
TGT $81.34 0.01%
AAPL $95.03 0.21%
FB $116.73 0.00%
GOOG $691.02 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs