Stocks End on a Mixed Note
Stocks pared their earlier losses in the final hour of trading to finish the day on a mixed note. All three major indexes struggled for direction today as investors remained on the sidelines after Tuesday’s rally.
Consumer Cyclical sector was the best performer in the S&P 500 in trading today, ending the day 1.06% higher. Basic Materials sector also rose sharply, ending the day 0.40% higher. Utilities ended the day 0.28% higher. Energy sector was the worst performer in the S&P 500 today, ending the day 0.23% lower.
Time Warner Inc. (NYSE: TWX) shares rose sharply in trading today after the company announced better than expected quarterly earnings. The company also raised its quarterly dividend by 11%. TWX shares ended the day 4.10% higher at $52.01.
Walt Disney Company (NYSE: DIS) shares also edged higher in trading today after the global entertainment reported better than expected quarterly results, driven by strong revenue growth. DIS shares ended the day 0.42% higher at $54.52.
C.H. Robinson Worldwide Inc. (NASDAQ: CHRW) shares plunged in trading today after the company reported weaker than expected fourth-quarter earnings. CHRW shares ended the day 9.71% lower at $60.50.
European markets ended mostly lower earlier today as political uncertainties in Spain and Italy weighed down investors’ sentiment. Asian markets ended mostly higher overnight, with the Nikkei 225 Index in Japan closing 3.77% higher, and the Hang Seng Index in Hong Kong closing 0.47% higher.