March 8, 2014
Wall St ends mostly lower on earnings; dollar hits 7-week high
Wall Street stocks fell as quarterly earnings of Intel and General Electric disappointed, contributing to a decline in a measure of global equity markets, while the dollar hit a seven-week high against the euro.
The Dow outperformed the broader S&P 500 index as American Express shares climbed 3.6 percent to $90.97.
The Dow Jones industrial average rose 41.55 points, or 0.25 percent, to end unofficially at 16,458.56.
The Standard & Poor's 500 Index slipped 7.19 points, or 0.39 percent, to finish unofficially at 1,838.70.
The Nasdaq Composite Index fell 21.11 points, or 0.50 percent, to close unofficially at 4,197.58.
For the week, the Dow rose 0.1 percent, while the S&P 500 slipped 0.2 percent and the Nasdaq gained 0.5 percent.
In currency markets, the dollar index, a gauge of the dollar's value versus six major currencies, rose 0.4 percent to 81.232.
In afternoon trading, the dollar traded down 0.03 percent to 104.31 yen.
The euro fell to a seven-week low of $1.3515 in the afternoon on the dollar's strong rally. It was last at $1.3530, down 0.7 percent.
In Treasuries, the benchmark 10-year note was up 7/32 in price with the yield at 2.8176 percent.
Stocks rose in Europe as gains in consumer cyclicals helped the broad FTSEurofirst 300 index gain 0.5 percent to close at 1,345.02, a level not seen in 5-1/2 years.
In commodities, Brent crude oil rose more than $1 per barrel, driven by demand for heating fuel and rising gasoline prices, but gains were offset by expectations for increased supply from Libya and Iran.
Brent oil for March delivery, which became the front-month contract following the expiry of the February contract on Thursday, rose $1.04 to $106.79 a barrel.