1/05/2015

Winning Streak Ends for Dow, S&P 500; Nasdaq Inches Higher

The winning streak has come to a halt. The Dow and the S&P 500 ended the day slightly in the red, ending a five-session streak of record highs.

The Dow Jones Industrial Average slipped almost three points, or 0.02% to close at 17,612.06.  The S&P 500 lost 1.47 points, or 0.07% to end at 2,038.22, while the Nasdaq Composite Index gained 14.58 points, or 0.31% to close at 4.675.14.

The yield on the 10-year Treasury note fell to 2.365%. In commodity markets, crude-oil futures fell 1.4% to $76.85 a barrel. Gold futures slipped 0.3% to $1,159.4 an ounce.

In corporate news, Fossil Group (FOSL) rose 8.7% to close at $112.48 after its per-share earnings and revenue beat forecasts.

Macy's (M) climbed more than 5% to end the day at $61.57. The department store chain posted better-than-expected per share earnings, but posted disappointing sales in the third quarter and cut its outlook for the full year.

Beazer Homes USA (BZH) dropped 3.38% to close at $18.60, despite beating analyst forecasts for earnings and revenue, and posting its first full fiscal year of profitability since 2006.

BB&T Corp. (BBT) agreed to buy Susquehanna Bancshares (SUSQ) for about $2.5 billion in cash and stock. Shares of BB&T fell 1.7%, while shares of Susquehanna surged 32.5% to end at $13.12.

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