| Stocks: Investors on hold over Greece |
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| Friday, 17 February 2012 11:03 |
![]() Click the chart for more stock market data. NEW YORK (CNNMoney) -- U.S. stocks were mixed Friday, a day after finishing the previous session at multi-year highs. But the moves were minor as investors hesitated ahead of a key vote on a second bailout for Greece. The Dow Jones industrial average (INDU) rose 32 points, or 0.3%, and S&P 500 (SPX) rose 3 points, or 0.3%. The Nasdaq (COMP) lost 2 points, or 0.1%. Investors are optimistic that European finance ministers will sign off on Greece's latest economic reform proposal when they meet Monday. Their approval is needed in order for Greece to receive bailout funds and avoid default on a €14.5 billion bond redemption in March. Moves in the market could be muted Friday, as investors take a breather going into the long weekend and ahead of Monday's big meeting -- especially with the Dow finishing at its highest level since May 2008 on Thursday, and the Nasdaq at a decade high. Europe: Out of ICU but still illAll three indexes are on track to post gains for the week. The Dow is up about 0.8%, while the S&P 500 is on track for a 1.2% gain. The Nasdaq has jumped nearly 2%. Markets will be closed Monday for Presidents' Day. 0:00 / 01:21 Greece gets more isolated from Eurozone World markets: European stocks were modestly higher in afternoon trading. Britain's FTSE 100 (UKX) added 0.5%, the DAX (DAX) in Germany rose 1.3% and France's CAC 40 (CAC40) gained 1.4%. Asian markets ended higher. The Shanghai Composite (SHCOMP) edged up slightly, the Hang Seng (HSI) in Hong Kong rose 1% and Japan's Nikkei (N225) popped 1.6%. Economy: The Consumer Price Index rose 0.2% in January, after holding steady the two months prior. Analysts were expecting a rise of 0.3%. Core inflation rose 0.2%, compared to estimates for 0.1% uptick. The Conference Board's Leading Economic Indicators index is expected to tick up by 0.5% in January, after increasing by 0.4% in the month prior. Companies: Applied Materials (AMAT, Fortune 500) spiked after the company beat Wall Street's earnings and revenue estimates for the fiscal first quarter and predicted a higher-than-expected second-quarter profit. Shares of H.J. Heinz (HNZ, Fortune 500) moved higher after the company beat earnings estimates, thanks to growth in emerging markets. Campbell Soup's (CPB, Fortune 500) stock also edged higher after the company's second quarter profit declined but still managed to beat forecasts. Nordstrom (JWN, Fortune 500) shares were lower after the retailer's issued a disappointing profit forecast for the year. Baidu (BIDU), China's top search engine, beat fourth-quarter earnings and sales estimates but shares edged lower as the company issued a disappointing first-quarter revenue outlook. Gilead Sciences (GILD, Fortune 500) shares tumbled after the drugmaker said that the majority of patients involved in experience of a hepatitis C treatment experienced a relapse within four weeks of completing the treatment. Currencies and commodities: The dollar edged lower against the euro and the British pound, but rose versus the Japanese yen. Oil for March delivery gained 88 cents to $103.19 a barrel. Gold futures for April delivery rose $3.60 to $1,732.00 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 2.03% from 1.99% late Thursday. First Published: February 17, 2012: 9:46 AM ET
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