Stocks faded in late-afternoon trading today, after being nicely in the plus column for most of the day. At the close, the Dow Jones Industrial Average lost 100 points; the S&P 500 was largely flat; but the NASDAQ added 15 points. Market breadth also exhibited a mixed tone, as the number of issues rising narrowly topped those falling on the New York Stock Exchange, although the advance-decline line was tilted slightly to the downside on the NASDAQ.
Investors' concerns about subscriber trends and rising costs at ESPN overshadowed an incredible performance by Star Wars: The Force Awakens, and Disney shares fell notably to a 52-week low following the media conglomerate’s December-period earnings release.
Beverage giant Coca-Cola delivered an in-line performance in the fourth quarter, with results slightly lower versus the prior-year period. Shares were up modestly following the release.