US shares on Friday recovered from losses to end mixed after an early bout of selling as violence increased in Ukraine, sending oil prices to the biggest high in a month.
Spurring a rally in energy producers, the Ukrainian crisis advanced a measure of oil and natural gas producers at the Standard & Poor’s 500 index to finish off bare 0.12 point (0.01 percent) at 1,955.06. The tech-rich Nasdaq Composite expanded 11.92 (0.27 percent) to 4,464.93. Nordstrom was down 5.2 percent following reporting sales that missed estimates of the analysts. Meanwhile, Monster Beverage rose 30 percent on Coca-Cola agreeing to buy a stake in the company. Coca-Cola’s shares were up 1.7 percent to USD 40.88.
The Dow Jones Industrial Average finished off 50.67 points (0.30 percent) at 16,662.91.
As worries continued to grow on the ongoing clash between Russia and Ukraine, the US markets risen for two days straight indicating signs of a steady growth in the US economy with little evident threat of inflation.
The recent data indicated continued meek growth in the economy, with a slowdown in the producer price index to a 1.7 percent annual pace. A 1.0 percent increase in manufacturing sector pushed another 0.4 percent monthly gain in industrial output in July.
Shares of retailer JC Penney fell 2.5 percent despite a narrowed loss and growing sales reported in its fiscal third quarter, ending August 2. The analysts, however, raised doubts on whether the company could sustain its turnaround.
A day after Big banana company Chiquita Brands rejected a USD 13 a share takeover offer by two Brazilian firms, it added 0.8 percent to USD 13.63.