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.

'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

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. United Airlines hack coincided with incursion into government employee data
  2. Post-Gazette offers voluntary buyouts in bid to avoid layoffs
  3. U.S. Steel CEO expects rebound
  4. Gold continues to fall further out of favor with investors
  5. Voice-assisted technology raises privacy concerns
  6. China rebound, Fed statement fuel rally on Wall Street
  7. Muni bond funds stressed
  8. Range Resources cuts workforce 11%
  9. Fed holds steady on rates
  10. Consol Energy, Range Resources report 2Q losses, plan deeper cuts
  11. PPG puts brand 1st in strategy to reach commercial paint market