Market Wrap: Stocks Fall on Miners, UPS; Indexes Up for Week

Financial Markets Wall Street
Richard Drew/AP
By Lucas Iberico Lozada

NEW YORK -- U.S. stocks fell modestly Friday, pressured by underwhelming corporate news including guidance from economic activity bellwether UPS and as materials stocks fell after bearish notes.

Major indexes, however, rose for the first week in four, boosted in part by the European Central Bank's decision Thursday to further stimulate euro zone growth.

Materials shares weighed on the S&P 500, falling 1.6 percent after Goldman Sachs (GS) cut its price target on various miners including a 42 percent downward revision to Freeport McMoRan (FCX) stock to $18. Goldman separately slashed forecasts on commodity prices including aluminum, copper and nickel.

UPS (UPS) was among the largest drags on the S&P 500 after a gloomy outlook, alongside Exxon Mobil (XOM). On Friday Credit Suisse (CS) cut Exxon to "underperform."

%VIRTUAL-pullquote-From where we're sitting, we're sensing continuation [from last year], the trend is still the upside.%Declines were capped by bullish investor sentiment after Thursday's move from the European Central Bank, which detailed a bigger-than-expected bond-buying program to lift the region's sagging economy and fight deflation.

"From where we're sitting, we're sensing continuation [from last year], the trend is still the upside," said Gordon Charlop, a managing director at Rosenblatt Securities in New York. "The corrections and the volatility will be a little more pronounced, a little more dramatic, but the trend remains intact."

The Dow Jones industrial average (^DJI) fell 141.38 points, or 0.79 percent, to 17,672.6,the Standard & Poor's 500 index (^GPSC) lost 11.33 points, or 0.55 percent, to 2,051.82 and the Nasdaq composite (^IXIC) added 7.48 points, or 0.16 percent, to 4,757.88.

For the week, the Dow rose 0.9 percent, the S&P gained 1.6 percent and the Nasdaq added 2.7 percent.

UPS gave a fourth-quarter earnings outlook that was below expectations, citing a disappointing performance in U.S. domestic ground shipments. Shares slumped 9.9 percent to $102.93.

Earnings Season

With 18 percent of S&P 500 companies having reported, 72.2 percent have topped earnings expectations, while 54.4 percent have beaten revenue forecasts, according to Thomson Reuters (TRI) data. That compares with the long-term average of 63 percent for earnings and 61 percent for revenue.

Starbucks (SBUX) rose 6.6 percent to $88.22 a day after the coffee chain reported same-store sales growth that was better than expected in its Americas region.

GoPro (GPRO) shares jumped 8.5 percent to $52.48 after a partnership with the U.S. National Hockey League paved the way for players to wear GoPro cameras during league games.

Declining issues outnumbered advancing ones on the NYSE by 1,678 to 1,368, for a 1.23-to-1 ratio on the downside; on the Nasdaq, 1,514 issues fell and 1,207 advanced for a 1.25-to-1 ratio favoring decliners.

The benchmark S&P 500 index was posting 73 new 52-week highs and 6 new lows; the Nasdaq composite was recording 91 new highs and 56 new lows.

About 6.4 billion shares changed hands on U.S. exchanges, compared to the daily average so far this month of 7.3 billion according to BATS Global Markets data.

What to watch Monday:
  • The Federal Reserve Bank of Dallas releases its January survey of manufacturing conditions within Texas at 10:30 a.m. Eastern time.
These selected companies are scheduled to release quarterly financial results:
  • Ashland (ASH)
  • Brown & Brown (BRO)
  • D.R. Horton (DHI)
  • Norfolk Southern (NSC)
  • Roper Industries (ROP)
  • Seagate Technology (STX)
  • Texas Instruments (TXN)
  • W.W. Grainger (GWW)
10 Impromptu, Family-Friendly Activities to Beat Cabin Fever
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Market Wrap: Stocks Fall on Miners, UPS; Indexes Up for Week
"Sports" here is loosely defined, since it's probably not the best idea to let the kids play hockey or baseball in the house. Turn your rooms into a wacky Olympic obstacle course with games like balloon volleyball, bowling with rolled-up socks and soda bottles, and mini golf with cups as the targets. Offer several prizes so no one feels left out, like "most creative playing style" or "most enthusiastic athlete."
Dust off all those board games your kids neglect and create a several-day tournament. If they normally have their eyes glued to a smartphone or tablet, a physical game –- you know, with tangible pieces they can hold in their hands -- could be a novel change of pace. Alternately, stump your kids with games, puzzles and tricks that can keep them entertained for days. Check out game and puzzle books specifically geared towards keeping your kids amused.
We're talking more of a blanket mansion here. Let your kids have their way with your living room, rearranging furniture, pulling cushions onto the floor and draping everything with all the blankets and sheets you can muster up. Let them eat in the fort, read in the fort, even sleep in the fort as a living room "campout."
The actual talent show will take up maybe an hour of your kids' time, but preparing for the show could take hours if not days, depending on how involved they become. If there are dance routines to be created and rehearsed, costumes to be made, scripts to be written and memorized and programs to be created, they could entertain themselves for quite some time.
Just hop on Pinterest, and you'll find enough fun, cheap arts and crafts ideas to keep any kid -- of any age, --busy from now 'till the spring thaw. Some favorite winter-themed ones we recommend:
  • Paper snowflakes.
  • Marshmallow or cotton ball snowmen.
  • DIY snow globes.
Kill two birds with one stone by clearing out your closet and drawers and using what you find to create a dress-up kit for your kids. You get to streamline your wardrobe and accessories down to only the items you really wear on a regular basis, and your kids get some fun, free dress-up fodder to aid their imagination.
The right baking project can keep your kids busy for a whole afternoon. Think cutouts you can both bake and decorate, a make-your-own pizza project (with a contest at the end to judge whose is best), or Rice Krispie freestyle treats your kids can mold into any shapes they please.
All you need is some basic ingredients you've probably already got around the house, and you can create some neat science projects that will delight kids of ages. Some of our favorites (find instructions on Pinterest): 
  • Make your own slime.
  • Vinegar volcano.
  • Invisible ink.
String some unseasoned popcorn on a piece of string or yarn to hang over the trees, bushes and railings in your backyard. Your kids won't just have fun making the feeders; they'll also enjoy watching the neighborhood critters visit them in the days following.
Your kids still need to get outside from time to time, so when the weather permits, try some fun ways to take playing in the snow up a notch. Obviously, you know the classics: Build a snowman. Create snow angels. Sled down the local hills. Build a snow cave or igloo. You can also tackle more creative snow games: create snow "spray paint" by filling spray bottles with water and food coloring. Make "snow ice cream" with evaporated milk, vanilla and sugar.
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