Stocks erased early losses and ended mixed Thursday, ending a five-week winning streak in light pre-holiday trading.
The Nasdaq and the Dow Jones industrial average each edged up 0.1%, while the S&P 500 ended a tad lower. Major averages fell as much as 0.7% in early trading. Volume was lower in the stock market today, slipping 4% on the NYSE and 9% on the Nasdaq compared to Wednesday, according to preliminary data.
After the close, GameStop (GME) fell sharply following its earnings report for the fiscal fourth quarter that ended in January.
Machinery and office supply stocks were among the best performers in the regular session.
Caterpillar (CAT) leading the Dow with a 2% gain.
Meanwhile, office supply stock Staples (SPLS) was among the bright spots in the S&P 500, jumping 7% after a judge disapproved of a Federal Trade Commission ruling that barred it from taking over rival Office Depot (ODP). Office Depot jumped 9%.
In the IBD 50, gunmakers took a beating. Smith & Wesson (SWHC) dropped more than 8% in heavy volume after a sporting-goods retailer said gun sales slowed in February. Smith & Wesson triggered a sell signal by erasing a double-digit gain past a 26.64 buy point. Sturm Ruger (RGR) also fell more than 8%, pulling back to
Yahoo (YHOO) ended little changed after Starwood, a hedge fund, said it would launch a proxy fight to remove the Internet giant's board.
The stock market will be closed Friday for the Good Friday holiday.
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