Wall Street Finishes Mostly Higher In Wednesday Trading
Wall Street overcame a choppy trading session to finish slightly positive Wednesday. Earnings from companies including Time Warner Inc. (TWX), Ralph Lauren Corp. (RL), and Wyndham Worldwide Corp. (WYN) drove market trading. In addition, Europe was once again in play earlier in the session. Recovering from a 66 point decline during the session, the Dow Jones Industrial Average finished up 7.22 points, or 0.1%, at 13,986.52. 19 out of 30 blue chip components finished positive. The S&P 500 Index ended up 0.83 point, or 0.1%, at 1,512.12. Telecoms, utilities and consumer discretionary stocks led the way in the uneven session. The tech heavy Nasdaq Composite Index was the lone decliner of the three major averages, ending down 3.1 points, or 0.1%, at 3,168.48. The choppiness and lack of clear direction this week is no surprise, as we are at 5 year highs with no clear catalyst to extend sharp 2013 gains.
Crude oil for March delivery settled at $96.62 a barrel on the New York Mercantile Exchange, down 2 cents. Gold rose $5.30, or 0.3%, to settle at $1,678.80 an ounce.