Enterprise-cloud supplierjumped in its first day as a publicly traded company; declined after the fast-food chain reported a 7.3 percent decline in quarterly sales; gained after the industrial conglomerate tallied quarterly profit that exceeded expectations, and dropped after the shipper warned fourth-quarter profits would come in below expectations.
“My guess is after four strong days we’re going to be in lockstep with energy prices,” Art Hogan, chief market strategist at Wunderlich Securities, said.
Erasing gains, West Texas Intermediate closed at its lowest since March 2009.
Friday’s economic reports had had existing-homes sales rising 2.4 percent to an annual rate of 5.04 million in December.
Near session lows, thedeclined 141.38 points, or 0.8 percent, to 17,672.60, with leading blue-chip losses that extended to 24 of 30 components.
Theshed 11.33 points, or 0.6 percent, to 2,051.82, with materials and telecom hardest hit and utilities and technology faring best of its 10 major sectors.
Thegained 7.48 points, or 0.2 percent, to 4,757.88.
For every three stocks rising, nearly four fell on the New York Stock Exchange, where 785 million shares traded. Composite volume cleared 3.6 billion.
On the New York Mercantile Exchange,for March delivery wavered between gains and losses before closing at $45.59 a barrel, off 72 cents, or 1.6 percent. The contract fell $8.10, or 0.6 percent, to $1,292.60.
Thestrengthened against other global currencies, including the euro, with concern that an anti-austerity party would claim victory in Greece elections on Sunday intensifying the currency’s drop after the European Central Bank expanded stimulus.
But Hogan said the politician “once seen as a proponent of Greece leaving the euro zone, or at least the currency, has softened that rhetoric over the last week or so, bowing to German acknowledgement that we may be able to find a way to restructure your debt as opposed to default on it.”
The yield on thefell 8 basis points to 1.7894 percent.