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U.S. stock indexes close mixed on federal reports

January 17, 2014

U.S. stock indexes were mixed Friday on a federal report that housing construction slowed last month after a surge in November. The Dow Jones industrial average picked up 41.55 points, or 0.25 percent, to close at 16,459.65. The Nasdaq composite lost 21.11 points, or 0.5 percent, to end trading at 4,197.58. The Standard & Poor's 500 closed down 7.20 points, or 0.39 percent, at 1,838.60. The U.S. Commerce Department said housing starts dropped 9.8 percent from November's revised seasonally adjusted annual rate of 1.107 million units. Housing starts slipped to a seasonally adjusted annual rate of 999,000 a month after they climbed an attention-grabbing 22.7 percent. The Federal Reserve reported U.S. industrial production rose for the fifth consecutive month in December, increasing 0.3 percent for the month. Industrial production -- mining manufacturing and utilities -- in the final three months of 2013 rose at an annual rate of 6.8 percent, the largest quarterly gain since the second quarter of 2010, the Fed said. On the New York Stock Exchange , 3.65 billion shares changed hands with 1,272 issues advancing and 1,835 declining. In Japan , the Nikkei 225 index lost 12.74 points, 0.08 percent, to 15,734.46. In Europe , London's FTSE 100 added 13.88 points, 0.2 percent, to 6,829.30. The 10-year U.S. treasury was yielding 2.825 percent. The euro traded lower at $1.353 and the dollar was lower against the yen at 104.29 yen . Gold added $11.70 to close at $1,251.90 an ounce on the Comex division of the New York Mercantile Exchange . Silver added 25 cents to reach $20.30 an ounce. Crude oil picked up 41 cents to close at $94.37 per barrel on the NYMEX . On the Chicago Board of Trade , March corn was off 3.5 cents to $4.245 , soybeans gained 1.5 cents to $13.165 and winter wheat lost 10 cents to $5.6275 .

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Source: UPI Business News

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