Get All Access for $5/mo

Stock Market Manages to Stay Steady Despite Rise in Unemployment Claims and Fall in Home Sales Retail stocks on the Entrepreneur Index™ dropped, but the rest of the market remained flat.

By Andrew Osterland

Opinions expressed by Entrepreneur contributors are their own.

Martin Barraud | Getty Images

Jobless claims last week were higher than expected and new home sales fell 6.9 percent in January, a bigger drop than expected. Neither, however, made much of an impression on investors today.

Stock prices were flat with the Dow index posting a 0.03 percent gain, while the S&P 500 and Nasdaq Composite indexes fell 0.09 percent and 0.16 percent respectively. The Entrepreneur Index™ was down 0.14 percent on the day with only thirteen of sixty stocks on the index moving more than one percent in either direction.

Retailers had a tough day in the market with weak earnings and outlook from discount retailer Dollar General hurting sentiment. L Brands had the biggest decline on the Entrepreneur Index™ today, falling 3.14 percent. The stock is up just 2.2 percent this year and down 36.5 percent over the last twelve months. Investors may be expecting a more radical restructuring than just the closure of some poorly performing Victoria's Secret stores. The company recently announced it would close 53 outlets this year as the faltering lingerie line continues to lose market share.

Bed Bath & Beyond was also down sharply, closing the day off 2.98 percent. The market has been betting on a turnaround at the beleaguered retailer. But, with the stock up more than 32 percent this year, investors took some profit off the table today.

Other retailers on the Entrepreneur Index™ also posted losses today. Discount chain Dollar Tree Inc. was down 1.86 percent and Gap Inc. declined 1.85 percent. Walmart lost 0.82 percent on the day and Costco Wholesale Group was down 1.07 percent.

Technology stocks were generally lower with Facebook and NVIDIA Corp. posting the biggest declines. Facebook was down 1.85 percent after it experienced a global outage of its main network as well as Instagram for about 24 hours. The company said it was considering refunds to advertisers for the snafu. NVIDIA shares, meanwhile, took a breather from their recent run. They were up nearly 14 percent over the last three days before falling 1.81 percent today. The stock has gained 24 percent so far this year.

Other declines on the Entrepreneur Index™ included Ford Motor Co. (-1.41 percent), Jefferies Financial Group (-1.27 percent) and Wynn Resorts (-1.15 percent).

Clothing-maker Under Armour Inc. had the biggest gain on the Entrepreneur Index™ today, rising just 1.22 percent. Other gains on the index included Universal Health Services (1.08 percent) and Simon Property Group (0.93 percent).

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Andrew Osterland is a contributing writer for CNBC.com. He specializes in capital markets, personal finance and taxes.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

Leadership

Why Your AI Strategy Will Fail Without the Right Talent in Place

Using fractional AI experts through specialized platforms allows companies to access top talent cost-effectively, drive innovation and scale agile strategies for growth.

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.