After a day of relatively quiet trading, the stock market closed Thursday posting a weekly loss for the first time since mid-February. Banks and other financial companies fell, while telecom companies were up.
Dow Jones Edges Up 13, Nasdaq Rises 4
Stocks ended pretty much where they started on Wall Street, leaving the market with a weekly loss for the first time since mid-February.
Banks and other financial companies fell Thursday, while telecommunications companies rose.
Wells Fargo gave up 2%, while JPMorgan Chase fell 1%.
In other trading, Sportsman’s Warehouse sank 11% after releasing a disappointing forecast.
The Dow Jones industrial average edged up 13 points, or 0.1%, to 17,515.
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The Standard & Poor’s 500 index slipped a point to 2,035. The Nasdaq composite inched up four points to 4,773.
Trading was relatively quiet ahead of the Easter holiday weekend. U.S. markets will be closed Friday for the Good Friday holiday.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.90%.
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