Stocks finish mildly higher as energy offsets tech

26.01.2015 23:25
Kate Gibson |


U.S. stocks finished modestly ahead on Monday after the first weekly gain for equities in 2015, as investors mulled results from Greek elections and winter weather on the East Coast.

In Greece, the anti-austerity Syriza party won 149 out of a 300 possible seats in Parliament.

The market had “already discounted an anti-austerity vote, and the lower euro should boost manufacturing and exports,” Peter Cardillo, chief market economist, Rockwell Global Capital, said.

“Investors are bracing for a potentially historic northeast blizzard and the FOMC meeting this week,” Cardillo said.

In New York, officials urged residents to remain indoors with blizzard conditions forecast. The New York Stock Exchange said it planned to run on a normal schedule.

DR Horton rose after the home builder reported quarterly profit that topped estimates; Mattel declined after the toy maker ousted its chairman and chief executive and warned sales fell 6 percent in the holiday quarter.


DJIA Dow Jones Industrial Average 17678.70
6.10 0.03%
S&P 500 S&P 500 Index 2057.09
5.27 0.26%
NASDAQ Nasdaq Composite Index 4771.76
13.88 0.29%


After falling more than 100 points, the Dow Jones Industrial Average gained 6.10 points to 17,678.70.

The S&P 500 added 5.24 points, or 0.3 percent, to 2,057.06, with energy the best performing and technology the worst of its 10 major industry groups.

The Nasdaq gained 13.88 points, or 0.3 percent, to 4,771.76.

For every share falling, roughly two rose on the New York Stock Exchange, where 647 million shares traded as of 4 p.m. Eastern. Composite volume cleared 3.2 billion.

Traders on the floor of the New York Stock Exchange.

Getty Images
Traders on the floor of the New York Stock Exchange.

On the New York Mercantile Exchange, U.S. crude wavered before closing down 44 cents, or 1 percent, at $45.15 a barrel, and gold futures shed $13.20, or 0.1 percent, to $1,279.40 an ounce.

The U.S. dollar gained against the currencies of major U.S. trading partners; the yield on the 10-year Treasury note used to figure mortgage rates and other consumer loans rose 2 basis points to 1.8226 percent.


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