Markets Fade Near Close, Finishing with Losses as Energy, Financials Drag

4:16 PM, Mar 21, 2012 -- U.S. stocks finished mostly lower on Wednesday, with most of the major indices giving back moderate gains earlier today to close in the red for the second day. The one exception was the Nasdaq Composite index, which finished just in the black with a big boost from Apple (AAPL).

Stocks were under pressure all day after new data found that purchases of previously owned U.S. houses during February declined to a 4.59 million-unit annualized rate, down 0.9% from a revised 4.63 million pace in January, the National Association of Realtors said today. The median forecast in a Thomson Reuters survey called for a 4.62 million-unit pace. January's sales pace was revised upward from an originally reported 4.57 million units.

Most industry sectors in the S&P 500 were higher, led by consumer stocks. Financial and energy stocks were the exception, however, with energy issues falling about 1% and dragging the overall market underwater.

Crude oil settled higher today after a bullish report by the Energy Information Agency today found crude inventories unexpectedly declined last week. Crude for May delivery rose $1.20 to finish at $107.27 a barrel. April natural gas settled up cents at $2.36 per 1 million British thermal units. April gold rose $3.30 to $1,650.30 an ounce. April gold futures also were higher, rising $3.30 to $1,650.30 an ounce.

In company news, IBio, Inc. (IBIO) shares are up more than 33% in late trade after the company completed the first human trial of iBioLaunch-produced H1N1 influenza vaccine. According to IBIO, the tests confirm the results of its announcement last June that the vaccine was found to be safe and well tolerated at all dose levels.

Shares of Green Mountain (GMCR) are up nearly 10%, although pulling back from an earlier 15% gain, after Starbucks Coffee (SBUX) said it will make Starbucks-branded coffee packs for GMCR's new line of Keurig Vue single-cup coffee brewing machines. SBUX already makes single-serve packs for other Keurig brewers, but many investors had questioned whether the relationship would continue after SBUX announced plans to market ealier this month to market its own line of single-cup brewers, dubbed Verismo.

Also, shares of Assured Guaranty (AGO) dove 15% after Moody's Investors Service placed the debt of the surety and title insurance company on review for a possible downgrade, citing constrained business opportunities and the continued economic stress for U.S. municipal, mortgage, and European exposures. CEO Dominic Frederico blasted the potential downgrade as "unjustified" and "unwarranted," asserting AGO's finances are stronger and have improved significantly over the past two years.

Here's where the markets stood at end-of-day:

Dow Jones Industrial Average down 45.57 (-0.35%) to 13,124.62.

S&P 500 down 2.63 (-0.19%) to 1,402.89.

NASDAQ Composite up 1.17 (+0.04%) to 3,075.32.

GLOBAL SENTIMENT

HANG SENG INDEX down 0.15%

CHINA SHANGHAI COMPOSITE INDEX up 0.06%

FTSE 100 up 0.01%

UPSIDE MOVERS

(+) USG, Expects huge year-over-year improvement after posting preliminary results for January and February.

(+) SEED, Nearing Chinese approval for first GMO seed.

DOWNSIDE MOVERS

(-) KKD, Downgraded to Equal Weight from Overweight at Stephens, citing valuation after Q4 results.

(-) BHI, Said operating profit likely will fall with shift from natural gas to crude oil drilling.