U.S. stocks fall as Ukraine eclipses upbeat data; Dow falls 0.25%

Written By Unknown on Jumat, 29 Agustus 2014 | 08.10

Investing.com - Investing.com - Mounting tensions in Ukraine overshadowed robust U.S. economic indicators and sent Wall Street stock indices falling on Thursday.

At the close of U.S. trading, the Dow 30 fell 0.25%, the S&P 500 index fell 0.17%, while the NASDAQ Composite index fell 0.26%.

The Volatility S&P 500 index, which measures the outlook for market volatility, was up 2.89% at 12.12.

Geopolitics edged out healthy U.S. data and sent stock prices falling on Thursday

A top Ukrainian military official was reported as saying earlier that a "full-scale invasion" was taking place in the country, while separate reports that up to 1,000 Russian troops were in Ukraine to assist pro-Russian rebels sent investors ditching equities in search of safe-harbor assets such as gold.

The U.N., meanwhile, was holding an emergency meeting to address the crisis, which sent investors to the sidelines on fears that military conflicts will dampen the global recovery and drag on the U.S. economy as a consequence.

U.S. data took a back seat to events unfolding in Ukraine.

The U.S. gross domestic product grew at a revised annualized rate of 4.2% in the second quarter of this year, according to the Commerce Department, up from a preliminary estimate of 4.0% and better than market forecasts for a downward revision to 3.9%.

Elsewhere, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending Aug. 22 declined by 1,000 to 298,000 from the previous week's revised total of 299,000.

Analysts were expecting the figure to rise by 1,000 instead of contract by that amount.

A separate report showed that U.S. pending home sales increased by 3.3% last month, beating expectations for a 0.5% rise. June's figure was revised to a 1.3% drop from a previously estimated decline of 1.1%.

Leading Dow Jones Industrial Average performers included Home Depot Inc (NYSE:HD), up 0.71%, Dupont Fabros Technology Inc (NYSE:DFT), up 0.34%, and Cisco Systems Inc (NASDAQ:CSCO), up 0.22%.

The Dow Jones Industrial Average's worst performers included Visa Inc (NYSE:V), down 1.16%, Nike Inc (NYSE:NKE), down 1.09%, and Boeing Company (NYSE:BA), down 0.85%.

European indices, meanwhile, ended the day lower.

After the close of European trade, the DJ Euro Stoxx 50 fell 1.01%, France's CAC 40 fell 0.66%, while Germany's DAX fell 1.12%. Meanwhile, in the U.K. the FTSE 100 fell 0.36%.

On Friday, expect markets to move on U.S. personal spending and income reports, a Chicago-area factory gauge and consumer sentiment figures.

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