US close: Stocks end mixed as investors digest Brussels terror attacks
US stocks ended mixed on Tuesday, with the Dow snapping a seven-day winning streak as investors digested news of coordinated terror attacks in Belgium.
The Dow Jones Industrial Average ended down 0.2% and the S&P 500 slipped 0.1%, but the Nasdaq eked out a 0.3% gain.
Although stocks in Europe fell sharply early in the day following reports of explosions at Brussels’ Zaventem airport and the city’s Maalbeek metro station, the DAX and CAC 40 reversed course to end up while the Stoxx 600 pared losses to close just a touch lower.
“The sad reality is that the more frequent these kinds of events become, the more markets become immune and the response in prices becomes less dramatic,” said Jasper Lawler, market analyst at CMC Markets.
“The attacks on Belgium are a human tragedy but don’t detract from the situation with central banks, Chinese growth, currency wars, oil prices or a host of other issues that have been important to markets this year. The dovish commentary from Janet Yellen has cooled the rise in the dollar, put yuan devaluation concerns on the back-burner and supported oil prices. All that put together removes a lot of the justification for another hefty sell-off and is keeping stocks supported,” he added.
Islamic State later claimed responsibility for the suicide bomber attacks which killed more than 30 people and came just four days after the capture in Brussels of Salah Abdeslam, the main suspect in the jihadist attacks in Paris on 13 November 2015 that killed more than 130 people.
American Airlines ended in the red after it refuted earlier reports that the two explosions at Brussels international airport occurred next to its check-in desk.
Other travel and leisure stocks including Expedia, Priceline and Carnival Corp. were also under pressure in the wake of the attacks.
In economic data, Markit’s flash US manufacturing PMI nudged up to 51.4 in March from 51.3 the previous month, missing forecasts of 51.9. The reading was well below the post-crisis average of 54.1 but above the 50 mark that separates expansion from contraction.
“While some comfort might be drawn from the marginal rise in the PMI compared to February, the rate of growth remains worryingly weak and the lack of a stronger rebound is a disappointment, given that many companies reported bad weather to have hit activity in the first two months of the year,” said Markit’s chief economist, Chris Williamson.
Separately, a measure of manufacturing activity in the lower US Atlantic region rose in March to its strongest level in nearly six years, the Richmond Federal Reserve said. The Richmond Federal Reserve's composite factory index rose to +22 points in March from -4 in February, surpassing expectations of 0.
US house prices nudged higher in January led by increases in the Northwest and Southeast. The Federal Housing Finance Agency's monthly house price index rose 0.5% month-on-month in January to 230.7.
Meanwhile, oil prices settled mixed, with West Texas Intermediate down 0.1% to $41.47 a barrel and Brent crude up 0.7% to $41.84.
The US dollar rose 1.1% against the pound and 0.2% versus the euro. It also regained ground against the yen, trading up 0.2% versus the Japanese currency after losses earlier in the day as investors sought safe havens.
S&P 500 - Risers
Endo International Plc (ENDP) $30.81 +6.83%
Staples Inc. (SPLS) $10.31 +6.40%
Peabody Energy Corp. (BTU) $2.67 +5.12%
Western Digital Corp. (WDC) $51.34 +4.16%
Alexion Pharmaceuticals Inc. (ALXN) $135.68 +3.53%
Vertex Pharmaceuticals Inc. (VRTX) $86.78 +3.28%
Sherwin-Williams Co. (SHW) $281.99 +3.18%
CONSOL Energy Inc. (CNX) $12.04 +3.17%
Tenet Healthcare Corp. (THC) $29.24 +2.89%
United States Steel Corp. (X) $15.58 +2.84%
S&P 500 - Fallers
Genworth Financial Inc. (GNW) $3.05 -6.60%
Transocean Ltd. (RIG) $9.99 -5.13%
Pepco Holdings Inc. (POM) $21.21 -3.46%
CF Industries Holdings Inc. (CF) $33.94 -3.19%
Ensco Plc. (ESV) $11.02 -2.74%
Express Scripts Holding Co (ESRX) $67.52 -2.62%
TripAdvisor Inc. (TRIP) $64.04 -2.54%
Rowan Companies plc (RDC) $16.00 -2.50%
Gap Inc. (GPS) $29.08 -2.50%
Priceline Group Inc (PCLN) $1,319.41 -2.30%
Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $128.08 +1.06%
Pfizer Inc. (PFE) $30.38 +1.03%
Apple Inc. (AAPL) $106.74 +0.78%
Exxon Mobil Corp. (XOM) $84.13 +0.60%
Merck & Co. Inc. (MRK) $53.04 +0.45%
Microsoft Corp. (MSFT) $54.07 +0.39%
Cisco Systems Inc. (CSCO) $28.29 +0.35%
Nike Inc. (NKE) $64.92 +0.31%
Johnson & Johnson (JNJ) $107.39 +0.10%
3M Co. (MMM) $164.94 +0.06%
Dow Jones I.A - Fallers
Goldman Sachs Group Inc. (GS) $154.31 -1.27%
Visa Inc. (V) $72.99 -1.06%
Chevron Corp. (CVX) $95.48 -1.00%
American Express Co. (AXP) $60.60 -0.99%
E.I. du Pont de Nemours and Co. (DD) $63.95 -0.96%
Walt Disney Co. (DIS) $97.59 -0.88%
Procter & Gamble Co. (PG) $82.76 -0.67%
Boeing Co. (BA) $135.12 -0.54%
United Technologies Corp. (UTX) $98.65 -0.52%
Caterpillar Inc. (CAT) $75.53 -0.47%
Nasdaq 100 - Risers
Endo International Plc (ENDP) $30.81 +6.83%
Biomarin Pharmaceutical Inc. (BMRN) $83.45 +6.73%
Western Digital Corp. (WDC) $51.34 +4.16%
Alexion Pharmaceuticals Inc. (ALXN) $135.68 +3.53%
Vertex Pharmaceuticals Inc. (VRTX) $86.78 +3.28%
Cerner Corp. (CERN) $54.57 +2.69%
Amgen Inc. (AMGN) $150.65 +2.48%
Regeneron Pharmaceuticals Inc. (REGN) $378.31 +1.96%
Mylan Inc. (MYL) $46.21 +1.65%
Celgene Corp. (CELG) $102.73 +1.57%
Nasdaq 100 - Fallers
Express Scripts Holding Co (ESRX) $67.52 -2.62%
TripAdvisor Inc. (TRIP) $64.04 -2.54%
Priceline Group Inc (PCLN) $1,319.41 -2.30%
Discovery Communications Inc. Class C (DISCK) $27.33 -2.04%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $51.64 -2.03%
Mondelez International Inc. (MDLZ) $39.91 -1.92%
Fastenal Co. (FAST) $48.93 -1.88%
Dollar Tree Inc (DLTR) $79.01 -1.80%
Tesla Motors Inc (TSLA) $234.24 -1.71%
American Airlines Group (AAL) $42.77 -1.61%