TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Markets' bumpy month ends with a dip

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

By The Associated Press
Saturday, June 29, 2013, 12:01 a.m.
 

NEW YORK — Given the wild trading of late, it was a calm close to the month.

After flitting between tiny gains and losses most of Friday, the stock market closed mostly lower, a peaceful end to the most volatile month in nearly two years.

“It's a dull Friday,” said Gary Flam, a stock manager at Bel Air Investment Advisors. A bull market, he added, is “rarely a straight march up.”

The Standard & Poor's 500 index ended its bumpy ride in June down 1.5 percent, the first monthly loss since October. Still, the index had its best first half of a year since 1998 — up 12.6 percent.

Investors still seem unsure how to react to recent statements by Federal Reserve officials about when the central bank might end its support for the economy.

Mixed economic news added to investors' uncertainty Friday. An index of consumer confidence was almost unchanged, but a gauge of business activity in the Chicago area plunged.

“Investors don't know what to make of the news,” said John Toohey, vice president of stock investments at USAA Investment Management. “I wouldn't be surprised to see more ups and downs.”

The S&P 500 stock index closed down 6.92 points, or 0.4 percent, to 1,606.28. The Dow Jones industrial average fell 114.89 points, or 0.8 percent, to 14,909.60. The Nasdaq composite index rose 1.38 points, or 0.04 percent, to 3,403.25.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Turbulent week on Wall Street leaves investors wondering what’s next
  2. Trib Total Media puts 9 Western Pa. newspapers up for sale
  3. Mylan shareholders approve $34 billion hostile takeover bid for Perrigo
  4. Regulators expect lawsuit over oil, gas rules process
  5. Clean Air Council challenges Sunoco Pipeline’s public utility status
  6. Tentative settlement would leave some RadioShack gift card holders with nothing
  7. U.S. Steel freezes traditional pensions for long-serving nonunion staff
  8. GNC chief Archbold touts tailored mail promotions
  9. Board ruling boosts efforts for fast-food collective bargaining
  10. Marcellus shale drillers, Pa. settle 3 cases of fouling water supplies, pay $374K
  11. Dish and Sinclair agree in principle on new contract