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Stocks Close Mixed As DuPont-Dow Lift Industrials; Facebook Jumps

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The stock market closed mixed Wednesday, the first time in nine days the Nasdaq composite did not touch a new high.

The Nasdaq and the S&P 500 fell 0.1% as they pared larger losses. Facebook (FB), one of the largest Nasdaq components, jumped nearly 2% in heavy volume to a new high.

The Dow Jones industrial average rose more than 0.1%, thanks largely to a rise of more than 3% in shares of DuPont (DD). Reports said European Union regulators are set to approve the merger between the company and Dow Chemical (DOW). Dow Chemical shares rose 4% to a new high.

Small caps lagged as the Russell 2000 slid 0.5%. The Dow utilities afforded some shelter, rising nearly 0.4%.

Volume was lower, based on data at the closing bell.

Oil, fiber optic and mining were some of the sectors that dragged the market the most.

Trex (TREX) tumbled 7.5%, falling as much as 10% from the 72.13 buy point, an entry it had just cleared the day before. The loss resulted in a sell signal. The maker of decking products broke out of its base Tuesday after it beat profit and sales expectations. Measuring by volume, the amount of selling was higher than the buying in the breakout.

Restaurants were one of the weakest groups after Texas Roadhouse (TXRH) plunged 12% on disappointing sales and earnings for Q4. The stock gapped below a base it had been forming. Volume was more than 1,100% above average, topping the Stocks On The Move losers' list.

Jack in the Box (JACK) and Cheesecake Factory (CAKE) — two companies that reported results after the close — fell in heavy trading in the regular session. Jack in the Box fell sharply after its earnings per share and sales missed expectations. Cheesecake reported operating earnings of 67 cents a share, meeting estimates, and sales of $603.1 million, above views. Its shares were down nearly 2% in extended trading.

The only stock breaking out Wednesday was Alibaba (BABA). Shares of the Chinese online shopping company edged above the 104.67 buy point in ample volume, but closed at 104.20, below that entry.

On Thursday, earnings are due out from Acacia Communications (ACIA) and retailers Gap (GPS) and Nordstrom (JWN). Chinese internet company Baidu (BIDU) also announces results. Before the market opens, the weekly jobless claims report is released.

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