Stocks Closed Mixed Amid Data

U.S. stocks closed mixed on Thursday as data showed higher jobless claims and consumer spending. The Dow Jones Industrial Average dropped 21.97 points, or 0.13%, to 16,558.87. The S&P 500 fell 0.27 point, or 0.01%, to 1,883.68. The Nasdaq Composite gained 12.90 points, or 0.31%, to 4,127.45.

Manufacturing picked up in April after consumer spending surged the prior month, showing the U.S. economy is
poised to lift off in the second quarter. The Institute for Supply Management’s factory index rose to 54.9, the
strongest so far this year.

The NYSE agreed to pay a $4.5 million penalty for failing to comply with certain internal rules and not having
sufficient rules on the books, federal securities regulators said Thursday.

Ford Motor (F) made it official this morning: Chief Operating Officer Mark Fields will slide into the corner
office July 1. That’s sooner than initially expected, an accelerated timetable that outgoing Chief Executive
Alan Mulally credited to the readiness of his executive team.