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DJIA, Nasdaq, S&P Calm on Mixed Bag of Economic Data

As the springtime earnings season continues to wind down the major indices remained relatively flat, with players seeming treating the mixed bag of economic data in kind. While jobless claims rose
Jacob Harper received his BA from the University of Missouri in 2005, and his MA in Writing from Missouri State in 2009. He's written for American Express, Wisebread, LA Foodie, and Fox Digital, and he served as a Writer & Editor for the 2013 Los Angeles edition of the guidebook series Not For Tourists. Jacob currently lives in Los Angeles.
Jacob Harper received his BA from the University of Missouri in 2005, and his MA in Writing from Missouri State in 2009. He's written for American Express, Wisebread, LA Foodie, and Fox Digital, and he served as a Writer & Editor for the 2013 Los Angeles edition of the guidebook series Not For Tourists. Jacob currently lives in Los Angeles.

As the springtime earnings season continues to wind down the major indices remained relatively flat, with players seeming treating the mixed bag of economic data in kind.

While jobless claims rose 14,000 to 334,000, consumer spending increased 0.9 percent, well above analyst expectations of 0.6 percent. The anticipated winding down of quantitative easing by the Fed the day prior also didn’t affect markets that much, as it is assumed the stimulus reduction had already been factored in by the market.

The S&P remained completely unchanged, while the Dow saw some whipsaw action and ended the day ever-so-slightly in the red. International Business Machines (IBM) headed up the DJIA’s loss column, shedding 1.5 percent. United Technologies Corp ($UTX), Microsoft (MSFT) and Exxon Mobil Corporation (XOM) also dropped on the day.

Healthcare and tech helped edge Nasdaq into the black, notably a strong performance from beleaguered smartphone maker BlackBerry (BBRY) who gained 4.05 percent on heavy trading.

Results for May 1, 2014

  • Standard & Poor’s 500: -0.27 percent to 1,883.68 points
  • Dow Jones Industrial Average: -0.13 percent to 16,559 points
  • NASDAQ Exchange:  +0.30 percent to 4,127 points

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