TeleTrade - Analytics

    TeleTrade

    894.00 6.50/10
    63% of positive reviews
    Real

    U.S. stocks little changed | 16.04.2015

     

    U.S. stocks were little changed, after the Standard & Poor's 500 Index neared a record, as semiconductors declined on SanDisk Corp. results to offset a rally in Netflix Inc.

     

    The S&P 500 slipped 0.1 percent to 2,105.07 at 4 p.m. in New York, after earlier rising within 0.3 percent of its record.

    "We're right up near the all-time highs in the S&P, and sometimes you take a breather before you break through those levels," said Matt Maley, an equity strategist at Miller Tabak & Co. in Newton, Massachusetts.

    Energy shares in the S&P 500 erased a drop of 1.1 percent to rise as much as 0.5 percent before slipping again. The group's 6.5 percent rally in April -- its best month since January 2013 -- has underpinned the S&P 500's latest run at its first record since March 2.

    The S&P 500 has been stuck in a range of 52 points since March 20 when it last neared its record, as weaker-than-forecast data from hiring to manufacturing elevated concern about earnings while at the same time bolstered the case for keeping interest rates lower for longer.

    The benchmark has advanced 2.2 percent this year, trailing benchmark gauges in all developed markets tracked by Bloomberg except Greece, with the Federal Reserve set to raise rates this year.

    Fourteen companies report quarterly results today. Analysts predict earnings for S&P 500 companies fell 5.6 percent in the first quarter, cutting projections amid concern over a surging dollar and worse-than-forecast economic reports.

    Investors are also weighing economic reports for clues on the timing of the Fed's first rate increase since 2006. Fed Chair Janet Yellen has said that while rates will probably rise this year, any decision depends on economic data. Housing starts rose less than forecast in March, while jobless claims increased in the latest week.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree