Markets Get Mixed Signals
Stocks were mixed on Thursday as earnings reports brought some bad news, while bringing good news for BlackRock.
Thursday brought a mixed bag of earnings reports, which sent stocks in a number of different directions. The financial sector generally had a bad day after a horrible earnings miss by Citigroup (NYSE:C). On the other hand, BlackRock (NYSE:BLK) — home of the iShares ETFs — beat earnings estimates and saw its stock price surge 1.61 percent.
Thursday’s big tragedy featured Best Buy (NYSE:BBY), which saw its share price take a 26.83 percent nosedive after reporting weak holiday season sales.
The Dow Jones Industrial Average (NYSEARCA:DIA) lost 64 points to finish Thursday’s trading session at 16,417 for a 0.39 percent decline. The S&P 500 (NYSEARCA:SPY) made a 0.13 percent retreat to close at 1,845. The Nasdaq 100 (NASDAQ:QQQ) rose 0.04 percent to finish at 3,611. The Russell 2000 (NYSEARCA:IWM) advanced 0.15 percent to end the day at a record-high 1,173.13.
In other major markets, oil (NYSEARCA:USO) declined 0.36 percent to close at $33.65. On London’s ICE Futures Europe Exchange, March futures for Brent crude oil declined 19 cents (0.8 percent) to $105.56/bbl. (NYSEARCA:BNO). February gold futures advanced $1.10 (0.09 percent) to $1,241.30 per ounce (NYSEARCA:GLD). Transports got slowed down by the snow on Thursday, as the Dow Jones Transportation Average declined 0.63 percent (NYSEARCA:IYT).