Stocks finished mixed Thursday. The Dow fell 103 points to 25,439 while the S&P 500 lost 7 points to 2,745. The Nasdaq Composite added 6 points to 7,426.
The major averages fluctuated as a weak economic update offset trade optimism. On the data front, a survey revealed retail sales unexpectedly slipped 1.2% in December, the largest monthly drop since September 2009. A separate update on the producer price index showed a 0.1% decline in January. However, core PPI (ex- food and energy) rebounded 0.3% from a 0.1% decline in December. Trade updates were also in focus as reports indicated the White House is considering extending the March 1st tariff deadline. Meanwhile, President Trump will reportedly sign a bipartisan boarder-security funding bill ahead of the government shutdown deadline on Friday.
Six of 11 S&P 500 sectors ended in negative territory. Consumer Staples led losses with Coca-Cola declining 8.4% to $45.59 after the company lowered its full year sales guidance. Financials also underperformed as American International Group lost 9.0% to $40.19 after the insurance giant missed analyst profit projections for the sixth consecutive quarter. The Technology group ended in positive territory with Cisco Systems adding 1.9% to $48.40 after topping Wall Street earnings estimates.
Breadth was even on issues on both the NYSE and the Nasdaq. Composite NYSE Volume was more than 3.7 billion shares.
Treasuries strengthened with the yield on the 10-year note down five basis points to 2.65%. In commodities, WTI crude gained 1.1% to $54.48/barrel. COMEX gold fell 0.1% to $1309.80/ounce despite a weaker dollar.