US close: Stocks receded amid falling oil prices and poor data
US stocks fell on Thursday after oil prices lowered and fresh economic data queried Janet Yellen’s dovishness.
The Dow Jones Industrial Average fell 0.06% to 18,214.42 while Nasdaq advanced 0.42% to 4,987.89 and S&P 500 declined 0.15% to 2,110.74.
However, Connor Campbell from Spreadex said: “After Janet Yellen’s testimony earlier in the week pushed inflation and job growth to the forefront of the interest rate debate, the latest US figures were hotly anticipated.
Jobless claims rose above 300,000 for the second time in February while CPI saw its biggest month-by-month decline since December 2008, falling 0.7% but core CPI strengthened more that expected.
Barclays Research said: “The stronger-than-expected print for core orders in January suggests production may pick up a bit in coming months.”
Campbell added: “The difference between the two figures reflects just how much the price of oil is dragging down inflation.”
Oil prices dropped with WTI down 4.2% to $48.92 a barrel and Brent down 1.9% to $60.49 a barrel.
CMC Markets analyst Jasper Lawler said: “There are modest signs of a recovery in global demand from the likes of Europe and China but in the US stockpiles are increasingly rapidly as supply still outstrips demand.”
Over on COMEX, gold futures rose 0.63% to $1,209.10 while the dollar rose against the yen, the pound and the euro.
The yield on a benchmark US 10-year Treasury rose six basis points to 3.22%.
S&P 500 - Risers
Avago Technologies Ltd. (AVGO) $129.25 +14.71%
Salesforce.Com Inc. (CRM) $70.24 +11.72%
AES Corp. (AES) $12.63 +5.25%
Tesoro Corp. (TSO) $93.52 +2.89%
Precision Castparts Corp. (PCP) $217.10 +2.58%
Tenet Healthcare Corp. (THC) $46.74 +2.43%
Marathon Petroleum Corporation (MPC) $107.04 +2.27%
Google Inc. (GOOGL) $559.29 +2.19%
Google Inc. Class C (GOOG) $555.30 +2.10%
Molson Coors Brewing Co. Class B (TAP) $77.24 +2.06%
S&P 500 - Fallers
Ensco Plc. (ESV) $24.41 -8.16%
Noble Corporation plc (NE) $16.60 -6.90%
Newfield Exploration Co (NFX) $33.60 -6.67%
Peabody Energy Corp. (BTU) $7.43 -6.31%
Denbury Resources Inc. (DNR) $8.38 -6.26%
CONSOL Energy Inc. (CNX) $32.30 -5.89%
Southwestern Energy Co. (SWN) $26.35 -5.79%
Range Resources Corp. (RRC) $50.84 -5.69%
Noble Energy Inc. (NBL) $47.32 -5.00%
QEP Resources Inc (QEP) $21.32 -4.99%
Dow Jones I.A - Risers
Johnson & Johnson (JNJ) $102.80 +1.57%
Cisco Systems Inc. (CSCO) $29.91 +1.42%
American Express Co. (AXP) $83.25 +1.31%
Coca-Cola Co. (KO) $42.46 +0.98%
McDonald's Corp. (MCD) $99.51 +0.86%
Travelers Company Inc. (TRV) $107.82 +0.85%
AT&T Inc. (T) $34.50 +0.85%
Merck & Co. Inc. (MRK) $58.96 +0.80%
JP Morgan Chase & Co. (JPM) $61.58 +0.72%
3M Co. (MMM) $169.61 +0.43%
Dow Jones I.A - Fallers
Caterpillar Inc. (CAT) $83.80 -1.59%
Chevron Corp. (CVX) $107.06 -1.40%
International Business Machines Corp. (IBM) $160.87 -1.19%
Exxon Mobil Corp. (XOM) $88.65 -1.06%
Walt Disney Co. (DIS) $104.56 -0.96%
Intel Corp. (INTC) $33.65 -0.87%
Boeing Co. (BA) $151.73 -0.84%
Home Depot Inc. (HD) $115.38 -0.80%
United Technologies Corp. (UTX) $122.67 -0.57%
Unitedhealth Group Inc. (UNH) $113.66 -0.34%
Nasdaq 100 - Risers
Avago Technologies Ltd. (AVGO) $129.25 +14.71%
Google Inc. (GOOGL) $559.29 +2.19%
Google Inc. Class C (GOOG) $555.30 +2.10%
Vimpelcom Ltd Ads (VIP) $5.23 +1.95%
Tesla Motors Inc (TSLA) $207.19 +1.68%
Broadcom Corp. (BRCM) $45.70 +1.56%
Cisco Systems Inc. (CSCO) $29.91 +1.42%
Mylan Inc. (MYL) $57.24 +1.32%
Expeditors International Of Washington Inc. (EXPD) $48.79 +1.31%
Apple Inc. (AAPL) $130.41 +1.26%
Nasdaq 100 - Fallers
Catamaran Corp (CTRX) $51.38 -2.65%
Symantec Corp. (SYMC) $25.05 -1.73%
Autodesk Inc. (ADSK) $61.01 -1.61%
Staples Inc. (SPLS) $16.38 -1.56%
Bed Bath & Beyond Inc. (BBBY) $73.75 -1.51%
Discovery Communications Inc. Class A (DISCA) $32.44 -1.50%
Expedia Inc. (EXPE) $93.25 -1.44%
Sandisk Corp. (SNDK) $78.05 -1.25%
Tractor Supply Company (TSCO) $88.88 -1.22%
Viacom Inc. Class B (VIAB) $69.61 -1.05%