After trading higher most of the day, the major indices gave back some of the days gains near the close following concerns between Russia and Ukraine. Equities had rallied early on after a final read on consumer sentiment in February came in just above expectations and existing-home sales held steady in January. However, with today being the last trading day of the month and following a strong month in the market, investors were locking in gains, especially with concerns overseas as we head into the weekend. At the end of the day, the major indices closed mixed with the SP500 hitting a new record high:
DOW +50 to 16323
SP500 +5 to 1859
NASDAQ -10 to 4308
Gold prices closed -4.70 to 1327.10 an ounce
Oil prices closed +.03 to 102.43 a barrel
In the days’ stock news:
- Weighing on the Nasdaq, Apple shares erased initial gains and turned negative as the iPhone maker held its annual shareholder meeting, with investors voting down all proposals put up for a vote. AAPL closed -1.43 to 526.24.
- Jos. A. Bank climbed after the menswear chain rebuffed a $1.78 billion offer from Men’s Wearhouse, but said it is willing to talk to its larger rival about a higher bid. JOSB closed +1.78 to 62.08.
- Arena Pharmaceuticals slid after reporting losses widened in the 4Q. ARNA closed -.26 to 6.51.