Stocks Close on Mixed Note as Buyers Return to Market

Markets ended on a mixed note as investors hesitated on taking the next step after the recent rally. The Dow Jones industrial average closed down 25.91 points at 8,846.89, despite a late surge into the positive column. The broader market saw declining issues outpacing advances, 1,506 to 1,453, on moderate volume of 598 million shares on the New York Stock Exchange.

Key Takeaways:

• The Dow Jones industrial average ended down 25.91 points at 8,846.89, with a late rally into the positive column.
• Declining issues led advances 1,506 to 1,453 on moderate volume of 598 million shares on the New York Stock Exchange.
• The technology-heavy Nasdaq composite index rose 4.03 points to its third straight record high at 1,828.54, driven by news of Intel's increased stock buyback program.
• Intel Corp. increased its stock buyback program by 100 million shares, worth approximately $7.7 billion.
• Analysts stated that investors appeared to be taking a pause after the market's steep rally in the first quarter.
• Microsoft Corp.'s upbeat earnings forecast was cited as a factor in tech stocks' resilience to profit-taking.

Statistics:

• Dow Jones industrial average: 8,846.89
• Declining issues: 1,506
• Advancing issues: 1,453
• Volume on the New York Stock Exchange: 598 million shares
• Nasdaq composite index: 1,828.54
• Intel's stock buyback program increase: 100 million shares
• Value of Intel's stock buyback program: approximately $7.7 billion
• Microsoft Corp.'s gain: 9/16 at 88-1/4

Sources:

• Reuters
• John Hancock Funds
• Intel Corp.
• Microsoft Corp.