Wall Street ended the day mixed amid a drop in oil prices. However, the major indices recorded their best weekly performance for 2016. Shartia Brantley reports.
Wall Street ended the day mixed as the Dow and S&P 500 slid lower by a renewed drop in oil prices, while the Nasdaq managed a gain. And the choppy trading could continue says, Ken Kamen, president of Mercadien Asset Management: (SOUNDBITE) KEN KAMEN, PRESIDENT, MERCADIEN ASSET MANAGEMENT (ENGLISH) SAYING: "Volatility is certainly here to stay. We've been seeing that for years but certainly what we've seen since the beginning of this year is just an exacerbation of this up and down triple digits everyday." Despite the whiplash, U.S. stocks ended the week higher Yahoo shares rose after the company said it formed a committee to explore possible financial partners and strategic alternatives. Nordstrom missed estimates due to heavy discounting and unseasonably warm weather, sending shares lower. The weather was also cited by VF Corp, whose shares faltered, after the parent of North Face reported disappointing earnings. Weak earnings also sent shares of TrueCar lower. The car-shopping website reported fewer site visitors and higher costs. Data showed rising rents and healthcare costs lifted underlying U.S. inflation last month. And European markets retreated on lingering concerns about slumping oil prices and slower global economic growth.