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Stocks Mostly Higher Following New Russia Sanctions

Monday, 28 Apr 2014 04:54 PM

 

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US stocks Monday finished mostly higher as investors absorbed new sanctions on Russia and looked ahead to a busy week of economic news and earnings.

At the closing bell, the Dow Jones Industrial Average advanced 86.51 points (0.53 percent) to 16,447.97.

The broad-based S&P 500 added 6.02 (0.32 percent) at 1,869.42, while the tech-rich Nasdaq Composite Index slipped 1.16 (0.03 percent) to 4,074.40.

Analysts said trading volume was light kicking off a week that includes a Federal Reserve monetary policy announcement Wednesday and a monthly jobs report Friday.

Stocks largely recovered from a mid-afternoon swoon, but investors were still cautious after the US and Europe slapped new sanctions on Russia for failing to stop soaring tensions in Ukraine.

"Some of the economic news is not bad, but there are a lot of concerns," said Mace Blicksilver, director of Marblehead Asset Management.

Blicksilver cited continued weakness of many leading technology stocks as well as an announcement by Bank of America that it was suspending its dividend and share repurchase program after discovering an error in calculating its capital strength.

 

© AFP 2014

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