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Stocks Weaken At Close; Dow, S&P 500 Take First Monthly Hits Since October

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Stocks slid into a weak finish Friday as mixed consumer spending and income data, and an unexpected bump up in Midwest manufacturing helped confuse the end-of-quarter trade.

The Dow Jones industrial average fell 0.3%. The S&P 500 backed off 0.2% and the Nasdaq gave up its earlier gains to close flat. Small caps kept their chin up, leaving the Russell 2000 with a 0.3% gain.

Volume ran lower both on the NYSE and the Nasdaq, according to preliminary data.

For the month, the Nasdaq rose 1.7%, its fifth straight advance — leaving it up more than 21% over the past 12 months. The S&P 500 lost a fraction, and the Dow industrials lost 0.7% in the first decline for both indexes since October.

In The Mix: Martin Marietta, Exxon, FMC, Advanced Micro

Exxon Mobil (XOM) dropped 2%, dragging on the Dow industrials. Intel (INTC) topped that group with a 0.9% gain.

Cement and construction aggregates stocks posted Friday's strongest move among industries. Martin Marietta (MLM) jumped 3% after receiving an upgrade to buy, from neutral, from Cleveland Research. Citigroup had initiated coverage on Thursday on Martin Marietta and Vulcan Materials (VMC), with buy ratings on both stocks.  Vulcan rose nearly 3% Friday. The day's gains left both stocks poised for a test of resistance at their 10-week moving averages.

The alternative energy group posted a strong session, helped by TPI Composites' (TPIC) 4% advance. Barclays initiated coverage on the stock with a buy ranting and a 24 price target. The thinly-traded stock is in the sixth week of a possible base pattern, trading 73% above its July IPO price.

Herbicide and insecticide maker FMC (FMC) easily topped the S&P 500, spiking 13% after DuPont (DD) announced FMC would acquire DuPont's crop protection products business for $1.2 billion in cash, as well as an exchange for FMC's health and nutrition unit. The gain put shares well above a a 62.13 buy point in a cup-with-handle base, but the gap up breakout established a new buy range, starting at 69.72.

The FMC sale was the first divestiture aimed at meeting regulatory requirements for the planned $77 billion merger between DuPont and Dow Chemical (DOW). The two companies today said they expect to close the deal in August. DuPont ended down 1.2% and Dow shares were off 0.5%.

Chipmaker Advanced Micro Devices (AMD) grabbed the second hottest slot among S&P 500 stocks, up more than 4% after Macquarie launched coverage on the stock, although at a neutral rating. Advanced Micro is riding steady support at its 10-week line, in the fifth week of a consolidation. Shares are up 29% since Dec. 30.

IBD Leaderboard stock Apple (AAPL) settled 0.1% lower Friday to take a 2.2% gain for the week. That left shares still in a buy range above a 141.12 buy point in a four weeks tight pattern.

Among IBD 50 stocks, TAL Education (TAL) popped 4% in light trade, returning to just below its March 24 high. The stock wrapped up the session 37% above a 77.93 cup-with-handle buy point.

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