Wall Street mixed, S&P 500 notches 7-week gain in row

2013-02-15 23:47:11 GMT2013-02-16 07:47:11(Beijing Time)  Xinhua English

NEW YORK, Feb. 15 (Xinhua) -- U.S. stocks closed mixed on Friday amid mixed economic data, with the Standard & Poor's 500-stock Index dropping but still notching a streak of seven-week gain.

The Dow Jones Industrial Average edged up 8.37 points, or 0.06 percent, to 13,981.76. The S&P 500 went down 1.59 points, or 0.10 percent, to 1,519.79. The Nasdaq Composite index lost 6.63 points, or 0.21 percent, to 3,192.03.

Wal-Mart shares began to tumble at about 2:00 p.m. EST (1900 GMT) after Bloomberg quoted an internal memo that called February sales at the world's biggest retailer "a total disaster", dragging down the Dow and the S&P 500.

However, its shares rebounded soon as Wal-Mart spokesmen responded to the report, saying "As with any organization, we often see internal communications that are not entirely accurate, that lack the proper context and represent individual opinions." Wal-Mart shares finally shed 2.15 percent to 69.30 U.S. dollars.

Wall Street traded in a narrow range in the morning session in reaction to mixed economic data.

U.S. Industrial production edged down 0.1 percent in January after having risen 0.4 percent in December, the Federal Reserve said Friday.

Separately, the New York Federal Reserve showed Friday that conditions for New York manufacturers in February improved for the first time since the summer of last year.

Besides, U.S. consumer sentiment in February rose to the highest level since November, according to a joint survey by University of Michigan and Thomson Reuters.

CBS shares rallied 3.96 percent to 44.64 dollars after the media company missed analysts' estimates on fourth-quarter revenue.

Kraft Foods shares added 0.02 percent to 47.17 dollars after the company said it expects a 10.7 percent drop in revenue for its fourth quarter but raised its earnings forecast for this year.

UPS shares inched up 0.96 percent to 83.48 dollars after the logistics giant raised its quarterly dividend.

For the week, the S&P 500 moved up 0.1 percent, while both the Dow and the Nasdaq were down 0.1 percent.

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