Closing Bell: Stocks End Rocky Month of Trading Mixed

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chicago manufaturing stocks
Getty ImagesA key measure of Chicago-area manufacturing activity had its biggest monthly drop since 2008, sinking to 51.6 from a 14-month high of 58.7 in May.
U.S. markets ended Friday trading with a thud, as stocks gyrated from win to loss and back again. Two economic reports -- one upbeat, the other decidedly not -- helped drive the indecision on what was the last trading day in June and the second quarter.

The Dow Jones industrial average (^DJI) fell 41 points to 14,983, ending a three-day rally and six months of consecutive monthly gains. The Standard & Poor's 500 (^GSPC) fell 1.4 points to 1,611 while the Nasdaq (^IXIC) added 13 to end at 3,413.

Rising household wealth was credited for an uptick in the latest measure of consumer confidence. The University of Michigan said its final reading of consumer sentiment in June was 84.1, an improvement from a preliminary reading earlier in the month, and just slightly below May's final reading of 84.5 -- the highest since July 2007.

A key measure of Chicago-area manufacturing activity had its biggest monthly drop since 2008, sinking to 51.6 from a 14-month high of 58.7 in May. The reading was well below the level of 55 that economists polled by FactSet were expecting.

Among stocks making big moves Friday:
  • Shares of Nike (NKE) ended the day higher after initially sinking in morning trading, after the athletic apparel maker slightly lowered its 2014 earnings forecast and gave a lackluster first-quarter outlook. Shares ended Friday up 1.5 points to $63.79.
  • BlackBerry (BBRY) plunged 4 points, or 28 percent, to $10.46 after the company posted a surprise loss in the first quarter and warned of future losses despite releasing its make-or-break smartphones this year. The company also discontinued making new versions of its slow-selling tablet device, the Playbook.
  • Accenture (ACN) fell $8.33, 10.4 or percent, to $71.89. The consulting firm cut its revenue and profit outlook for its fiscal year ending in August. Revenue was hurt by lower demand in Europe as well as its communications, media and technology division.
  • Sears Holdings (SHLD) became the latest company to announce it is cutting ties with Paul Deen, following revelations that the celebrity cook used racial slurs in the past. The company, which operates Sears and Kmart stores and websites, said Friday that it will phase out all products tied to Deen's brand after "careful consideration of all available information." In doing so, Sears joins Walmart Stores (WMT), Target (TGT) and Home Depot (HD). Sears fell 1.4 percent to $42.16.
  • In IPO news, shares of Noodles & Co. (NDLS) soared in their first day of trading on the Nasdaq. The casual restaurant chain's stock more than doubled in price Friday to $36.74. That puts Noodles & Co. on track to post the biggest first-day trading gain since Splunk Inc.'s (SPLK) debut in April 2012.

Compiled from staff and wire reports.


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8 Comments

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ccdae5

still glad I got out in May

June 30 2013 at 8:52 AM Report abuse rate up rate down Reply
rhurst8

"Sears Holdings (SHLD) became the latest company to announce it is cutting ties with Paul Deen, following revelations that the celebrity cook used racial slurs in the past."

Paul???

Great proofreading!

June 30 2013 at 6:05 AM Report abuse rate up rate down Reply
seekthetruth123

How can this be ! Our fearless leader and his wise advisors told us things were better. I guess they left out the fact the over all economy has not improved, unemployment has and continues to go up ! As I type this 80,000 more people are about the loose their jobs due to sequestration during the next few months in one state alone. Think about this nationwide !

June 30 2013 at 1:30 AM Report abuse rate up rate down Reply
Susan

People in the know made a lot of money last week..Sold beforehand and then rebought..Wish I was in the know group..

June 29 2013 at 10:52 AM Report abuse rate up rate down Reply
1 reply to Susan's comment
ccdae5

I sold in May but haven't gotten back in yet

June 30 2013 at 8:54 AM Report abuse rate up rate down Reply
Tom Harrell

OH MY GOD----The Speculators SOLD OFF some of their Stocks and took the PROFITS--------WHOOPDE FREAKIN DOO---------------------The WORLD isn't coming to an END. ----------If the SELL OFFS are an Indicaton of the FATE of the World then we should have all DIED in 2007 when the DJIA shot up to 14,000 in July and then DOWN to almost 6,000 a few Months later. But we DIDN"T Die. We Kept on going and so did the SPECULATORS.

June 29 2013 at 8:28 AM Report abuse +2 rate up rate down Reply
2 replies to Tom Harrell's comment
thefacts22

Tom What the Speculators are selling today is DEBT,Private and Public.. ,and in return,the FEDS are Printing Paper money..There is a BIG difference with 2007.....USA had a financial crisis due to Franks/Dodd affordable housing act.....plus Fanny/Freddy pre-packing fraudulent PRIME mortage poison.....The fundamentals were ok...Now days we are 8 TRILLIONS of NEW/NEW debt,and and all the all the money spend in stimulating the economy LOST FOREVER

June 29 2013 at 9:22 AM Report abuse -3 rate up rate down Reply
1 reply to thefacts22's comment
lawmutt55

Tom was talking about stock speculators. Not everyone is a buy and hold investor.

June 29 2013 at 6:55 PM Report abuse rate up rate down
h.hughjardon

March of 2009 was jusr a few months later?

June 29 2013 at 9:34 AM Report abuse -5 rate up rate down Reply
bionicbob

Current reg.s out of D.C. stifle and destroy small business in the name of a socialist agenda. The US must decide whether the goal is socialism or economic growth. Cannot have both

June 29 2013 at 6:24 AM Report abuse -1 rate up rate down Reply
h.hughjardon

Anytime home values go up household wealth goes up. Let's.just hope that lessons were learned and people don't use them as an ATM again.

June 28 2013 at 9:36 PM Report abuse +4 rate up rate down Reply
1 reply to h.hughjardon's comment
seekthetruth123

Sadly that hasnt happened across the country and only in small areas. Unemployment is still a record hight across America yet the numbers fail to show it. Some how they fail to report the many who's benefits have ran out to make the number look better. Right now yet another 80,000 people are about to join the ranks of unemployed due to government cut backs. Yet the American government while under sequestration can afford to allow Obama with family in toe to go on a needless vacation at the cost of all most 100 million dollars where he all but promised Africa aid when we can not even afford to help our own.

June 29 2013 at 1:58 AM Report abuse -2 rate up rate down Reply
spglcsw

The market has been going up and down to almost the same amount each day. High risk investors playing the market.

June 28 2013 at 8:20 PM Report abuse +3 rate up rate down Reply
amani4000

Can anyone say Kaboom? The Fantasy of the last five years is coming to an end. Let's borrow trillions to solve our debt problem. Math does not sleep. Most all of you have been sleeping.No more free rides in the USA. Work or starve, the good ole days are coming to an end. There is really no way we can afford as a Nation, the entire cost of the Govt. That is the truth in whole.

June 28 2013 at 7:34 PM Report abuse -1 rate up rate down Reply
1 reply to amani4000's comment
h.hughjardon

WTF do we spend $3.8 trillion a year on?

June 28 2013 at 9:32 PM Report abuse -2 rate up rate down Reply
1 reply to h.hughjardon's comment
ybob555

That's the problem, it seems no-one in the government can tell the American people what it's being used for or spent on. We give billions to hostile foreign governments with very little in return, there is so much waste & misuse of money by various government agencies, & with no or hardly any oversight , even the agencies themselves can tell us what the waste amounts to.
This is big government gone wild & unchecked and not to many people seem to care, as long as they get their "government handouts". Sad state of ourselves.

June 28 2013 at 11:34 PM Report abuse -2 rate up rate down