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Share Name | Share Symbol | Market | Type |
---|---|---|---|
GE Aerospace | NYSE:GE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.93 | -1.19% | 159.89 | 163.2999 | 158.82 | 162.57 | 4,776,319 | 00:47:28 |
By Anora Mahmudova, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks ended the holiday-shortened week with solid gains, after four straight days of increases on the S&P 500 index and Nasdaq Composite.
The benchmark index traded sideways on Thursday as investors weighed a mixed bag of earnings results and generally positive economic data. U.S. markets are closed Friday for the Good Friday holiday.
Thursday had one of the busiest schedules in the earnings season, as 25 companies on the S&P 500 reported quarterly results, according to FactSet.
The S&P 500 (SPX) ended the day 2.54 points, or 0.1%, higher at 1,864.85 and gained 2.7% over the past four days. The weekly gain was the best since July 2013.
The Dow Jones Industrial Average (DJI) closed 16.31 points, or 0.1%, lower at 16,408.54. The blue-chip index gained 2.4% over the past four days, recouping all of the losses from the previous week.
The Nasdaq Composite (RIXF) added 9.29 points, or 0.2%, to 4,095.52 and gained 2.4% over the past four days.
Read the recap of MarketWatch's live blog of today's stock-market action.
"We expect today's trading to be quiet, as a lot of investors are probably consolidating ahead of the long weekend," said Jim Russell, senior equity strategist at U.S. Bank Wealth Management.
"It appears the investing community will give somewhat of a free pass to companies this quarter, as the cold-weather excuse for lower profits is legitimate. This will not be the case in the next quarter," he added.
In economic news, two separate reports pointed to more evidence that softening in the economy was largely weather related.
The number of people who applied for unemployment-insurance benefits increased less than expected, a slight increase from the lowest level since 2007, signaling that employers are maintaining a slow pace of layoffs, according to government data released Thursday.
A reading of manufacturing sentiment in the Philadelphia region improved in April, according to data released Thursday, contradicting a disappointing regional index from the New York Fed released earlier in the week.
Google, IBM sink after disappointing results; Goldman, Morgan Stanley rise
Shares of IBM Corp. (IBM) dropped 3.3% after the tech bellwether late Wednesday reported an eighth straight quarter of revenue declines and missed analyst expectations.
Google Inc. (GOOG) (GOOGL) dropped 3.7% after a disappointing earnings report published late Wednesday.
American Express Co.(AXP) fell 1.4% after it reported quarterly revenue that missed expectations late Wednesday.
Banking giant Goldman Sachs Group Inc. (GS) closed fractionally higher after reporting a fall in first-quarter earnings, which nonetheless beat Wall Street's expectations.
Morgan Stanley (MS) rose 2.9% after its profit topped estimates. Read also: Morgan Stanley is looking good, but Goldman is better.
General Electric Co. (GE) said it made an adjusted 33 cents a share in the first quarter, slightly beating FactSet estimates of 32 cents a share. Shares gained 1.7%.
UnitedHealth Group Inc.(UNH) slid 3.1% after its earnings beat expectations, but revenue missed.
Chipotle Mexican Grill (CMG) shares slid 5.9%, after initially rising as much as 4% following the release of results. The fast-food restaurant chain's first-quarter profit and revenue surged, largely attributed to a 13.4% jump in same-store sales.
Two stocks began trading today. Shares of Sabre (SABR), the travel-tech firm which owns the Travelocity website, rose 3.1% to $16.50 on debut.
Weibo (WB), China's microblog equivalent of Twitter, surged 19% to $20.24 on the first day of trading. Read also: Most IPOs this week priced below expected range
In other financial markets, European and Asian stocks closed mostly higher. Gold futures settled at a two-week low, while oil futures settled higher. 10-year U.S. Treasuries sold off, with yields jumping 9 basis points after a round of strong data stoked market doubts about the Federal Reserve's promise to keep its key lending rates low.
More must-reads from MarketWatch:
Wrong way: Ford, GM return to the bad old days
4 reasons the first quarter was better than it appeared
Why today's market is no stock picker's paradise
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