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

Midday Wrap: Market Mood Sours: StockTwits

NEW YORK (TheStreet) -- The major indices struggled to end the week on a positive note Friday in the wake of a souring consumer mood. Both the S&P 500 (SPY) and Dow (DIA) traded near flat by noon, after hitting all-time-highs earlier in the week. The Nasdaq (QQQ) edged lower. users predicted that a drop in consumer sentiment would make it unlikely that the market would rally to end the week.

$BAC Consumer Sentiment just killed any chance of a buy the market dip today....

? Seth Smith (@AllenWindsor52) May. 16 at 09:56 AM

A University of Michigan/Thomson Reuters survey indicated that consumer sentiment fell in April -- from a reading of 84.1 in April to 81.8 in May. Economists had anticipated a gain to 85.

Survey respondents indicated that wage stagnation was the main reason for the slump. Earnings beats by major retailers including JCPenney (JCP - Get Report), Dillard's (DDS - Get Report) and Nordstrom (JWN - Get Report) countered some of the negative sentiment.

The retail space is colorful. Nordstrom at all-time highs. JC Penny at 6mo high. $JWN $JCP

Ivaylo Ivanov (@ivanhoff) May. 16 at 09:48 AM

@ivanhoff $DDS a beauty too

? TwentyOne (@TwentyOne) May. 16 at 09:55 AM

Some investors said there was enough positive news out there to warrant a push higher by end-of-day.

$IWM $QQQ $SPY The way the markets are setting up, looks like they'll base during lunch and then the bulls will try to push higher last hour

? VR. (@ChalanTA) May. 16 at 11:55 AM

But most investors on anticipated the weak ending with a whimper. Sentiment on the ETFs that track the S&P 500 and Dow were majority bearish.

At the time of publication the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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
DDS $70.45 0.00%
JWN $51.13 0.00%
JCP $9.28 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs