Stock rally fades on end-of-month profit taking, Ukraine uncertainty

|By:, SA News Editor

Stock gains fizzled in the final two hours of trading to close mixed amid a bout of profit-taking following the market’s strong rally this month; uncertainty over the situation in Ukraine may have weighed on sentiment - or provided an excuse to sell - ahead of the weekend.

The S&P inched forward to another record close, but the Nasdaq turned negative, with relative weakness among large cap tech names such as Apple, Google and Intel; for the month, the Nasdaq led with a 5% gain, while the S&P rose 4.3% and the Dow 4%.

Home builder stocks were weak after housing data showed activity in the housing market near a two-year low.

Treasury prices fell slightly, and the 10-year yield rose 1.5 bps at 2.658% after paring most of its rise at the end of the day.