US close: Stocks finished mixed after US inflation data
US stocks finished mixed on Friday as oil prices dropped and US inflation edged closer toward's the Federal Reserve's 2% target.
The Dow Jones Industrial fell 0.13% but the S&P 500 and the Nasdaq rose 0.37% and 0.1%, respectively.
Oil prices slid after data from the Energy Information Administration on Thursday showed US crude inventories rose by 2.1m barrels last week to a peak of 504.1m barrels. It marked the third week of record highs in the past month and added to concerns about the global oversupply.
West Texas Intermediate crude fell 3.32% to $29.78 per barrel and Brent slipped 3.09% to $33.25 per barrel at 2112 GMT.
US inflation rose more than expected in January as the fall in energy prices eased, the Bureau of Labor Statistics revealed. The consumer price index increased 1.4% year-on-year last month, beating analysts’ estimates for 1.3% growth and marking a considerable pick-up from December’s 0.7% gain.
“The pick-up in core CPI inflation to a three-and-a-half-year high of 2.2% in January, from 2.1%, illustrates that rising domestic price pressures won’t allow the Federal Reserve to leave interest rates at near-zero levels for that much longer.”
The dollar fell 0.13% against the pound, dropped 0.22% against the euro and decreased 0.53% against the yen.
In corporate news, Deere & Co. was weaker after it posted a drop in net income for the first quarter and downgraded its outlook for the full year.
CommScope’s shares rallied despite the company announcing it swung to a loss in the fourth quarter.
Applied Materials surged after the chip equipment provider sounded an upbeat note on its profit outlook.
TrueCar plunged as the car-shopping website posted results and revenue outlook that missed analysts’ expectations.
Weight Watchers International rallied after a study by the Indiana University School of Medicine showed that Weight Watchers could help prevent diabetes.
Nordstrom Inc. was under the cosh after the company reported fourth quarter earnings that trailed estimates.
S&P 500 - Risers
Applied Materials Inc. (AMAT) $18.38 +7.05%
Tesoro Corp. (TSO) $72.20 +5.19%
Activision Blizzard Inc. (ATVI) $30.19 +4.54%
Autodesk Inc. (ADSK) $49.91 +4.52%
Cimarex Energy Co (XEC) $85.58 +3.61%
Qorvo, Inc. (QRVO) $41.85 +3.56%
United Continental Holdings Inc. (UAL) $53.78 +3.54%
Alliance Data Systems Corp. (ADS) $204.40 +3.53%
Equinix, Inc. (EQIX) $299.37 +3.12%
Diamond Offshore Drilling Inc. (DO) $19.64 +3.10%
S&P 500 - Fallers
Southwestern Energy Co. (SWN) $7.04 -17.08%
Peabody Energy Corp. (BTU) $2.03 -12.12%
Range Resources Corp. (RRC) $23.75 -8.77%
Murphy Oil Corp. (MUR) $15.76 -7.29%
Nordstrom Inc. (JWN) $49.19 -6.70%
CONSOL Energy Inc. (CNX) $7.87 -6.64%
Genworth Financial Inc. (GNW) $1.93 -5.39%
Owens-Illinois Inc. (OI) $14.06 -5.38%
Seagate Technology Plc (STX) $31.34 -5.35%
Devon Energy Corp. (DVN) $18.65 -5.33%
Dow Jones I.A - Risers
Home Depot Inc. (HD) $121.69 +1.43%
Nike Inc. (NKE) $59.30 +1.19%
American Express Co. (AXP) $54.70 +1.02%
Wal-Mart Stores Inc. (WMT) $64.66 +0.84%
International Business Machines Corp. (IBM) $133.09 +0.48%
Cisco Systems Inc. (CSCO) $26.55 +0.45%
Visa Inc. (V) $71.54 +0.42%
Coca-Cola Co. (KO) $43.75 +0.32%
Unitedhealth Group Inc. (UNH) $117.63 +0.15%
Exxon Mobil Corp. (XOM) $82.50 +0.06%
Dow Jones I.A - Fallers
Intel Corp. (INTC) $28.71 -2.41%
Boeing Co. (BA) $115.25 -1.97%
Caterpillar Inc. (CAT) $65.41 -1.07%
Travelers Company Inc. (TRV) $108.07 -0.72%
Microsoft Corp. (MSFT) $51.82 -0.71%
Goldman Sachs Group Inc. (GS) $146.72 -0.68%
McDonald's Corp. (MCD) $116.53 -0.55%
Merck & Co. Inc. (MRK) $50.11 -0.42%
Chevron Corp. (CVX) $86.49 -0.28%
Procter & Gamble Co. (PG) $81.79 -0.23%
Nasdaq 100 - Risers
Applied Materials Inc. (AMAT) $18.38 +7.05%
Activision Blizzard Inc. (ATVI) $30.19 +4.54%
Autodesk Inc. (ADSK) $49.91 +4.52%
Biomarin Pharmaceutical Inc. (BMRN) $77.70 +3.78%
NetApp Inc. (NTAP) $24.64 +2.97%
Lam Research Corp. (LRCX) $69.77 +2.95%
CA Inc. (CA) $30.01 +2.88%
Priceline Group Inc (PCLN) $1,283.74 +2.54%
Dish Network Corp. (DISH) $44.21 +2.41%
Incyte Corp. (INCY) $72.70 +2.37%
Nasdaq 100 - Fallers
Seagate Technology Plc (STX) $31.34 -5.35%
T-Mobile Us, Inc. (TMUS) $34.95 -4.59%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $150.07 -2.90%
Micron Technology Inc. (MU) $11.16 -2.87%
Intel Corp. (INTC) $28.71 -2.41%
Vimpelcom Ltd Ads (VIP) $3.65 -2.14%
Sba Communications Corp. (SBAC) $89.64 -2.11%
Gilead Sciences Inc. (GILD) $87.44 -1.74%
Stericycle Inc. (SRCL) $109.66 -1.69%
Nxp Semiconductors Nv (NXPI) $66.47 -1.67%