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Thursday
Feb162017

Mixed Moves

Indices closed out mixed on Thursday. The Dow traded to a fresh record level while the S&P 500 and Nasdaq ended the session fractionally lower. Moves were mixed on a variety of economic news. In earnings, Waste Management reported profit of $335 million, or 75 cents a share in the fourth quarter, up from $273 million, or 61 cents, a year ago. Revenue jumped 6.6% to $3.46 billion. On another note, housing starts declined in January. Starts dipped 2.6% last month to an annual rate of 1.25 million versus expectations of 1.22 million, but were up 10.5% from a year ago. Elsewhere, initial jobless claims ticked up last week. Department of Labor data showed new claims increased by 5,000 to 239,000 while continuing claims slipped by 3,000 to 2.076 million in the first week of February. Looking ahead, earnings details will be released on Friday from companies such as Deere and Co., Campbell Soup, and Dundee Energy. 




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