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U.S. stocks mostly fell on Thursday with the S&P 500... [Derived headline]

May 9, 2014

U.S. stocks mostly fell on Thursday with the S&P 500 and the Nasdaq closing lower, led by losses in the energy and utility sectors.

The Nasdaq ended lower for a third straight session, its longest losing streak since early April.

A turnaround in beaten-down internet stocks had boosted the Nasdaq earlier, while a drop in initial jobless claims suggested the labor market was improving and had helped lift the broader market.

But a late selloff in utilities and energy, among the best performing sectors recently, dragged the S&P 500 and the Nasdaq to session lows.

The S&P utility sector index fell 1.2 percent and the energy sector index was off 1.3 percent.

The Dow Jones industrial average rose 32.43 points or 0.2 percent, to close at 16,550.97, the S&P 500 lost 2.58 points or 0.14 percent, to 1,875.63 and the Nasdaq Composite dropped 16.177 points or 0.4 percent, to 4,051.496.

But the Global X Social Media Index ETF, which consist of internet stocks such as Groupon advanced 0.8 percent, after falling more than 14 percent since April 22. Twitter Inc jumped 4.2 percent to $31.96 and Groupon Inc gained 6.1 percent to $5.65 on Thursday.

Priceline Group fell 2.1 percent to $1,108.00.

The travel website operator reported higher-than-expected quarterly profit but forecast second-quarter profit below estimates.

Tesla Motors shares fell 11.3 percent to $178.59, a day after the company's outlook had also disappointed some investors.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Herald, The (Scotland)

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