Dow Up 151 After Seesaw Day

Housing data drags, but HP, Home Depot fuel optimism
By Nick McMaster,  Newser Staff
Posted Nov 18, 2008 3:20 PM CST
Traders work on the floor of the New York Stock Exchange today.   (AP Photo)
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(Newser) – Stocks finished up slightly today amid a raft of mixed economic and earnings news, MarketWatch reports. On light trading volume, the indices swung between significant gains and losses, and the Dow closed up 151.17 at 8,424.75. The Nasdaq clawed out of the red at the last moment, closing up 1.22 at 1,483.27, and the S&P 500 gained 8.37, settling at 859.12.

Hewlett-Packard sustained a rally after announcing it would beat fourth-quarter and fiscal-year forecasts. Home Depot shot up after announcing a shallower-than-expected profit drop, but ceded most of its gains after the National Association of Home Builders reported its index of the housing market fell to a record low. Pepsi shares slipped after the firm announced job cuts and slashed profit forecasts.