Stocks rebound after early losses this year to post quarterly gain

FILE - In this Oct. 2, 2014, file photo, Wall Street is etched in the facade of a building in New York's Financial District. Stocks are opening broadly lower Wednesday, March 23, 2016, led by declines in mining companies as prices for metals and other commodities weaken. Several companies were also moving lower Wednesday after reporting disappointing results or outlook. (AP Photo/Richard Drew, File)

By Staff Report April 1, 2016 3 min read

Local stocks

First Quarter Results * Covenant Transportation: closed at $24.19, up 28 percent * Dixie Group: closed at $4.21, down 19.5 percent * Astec Industries: $46.67, up 14.6 percent * Mohawk Industries: closed at $190.90, up less than 1 percent * CBL & Associates Properties Inc.: $11.90, down 3.7 percent * Miller Industries: $20.28, down 6.8 percent * Unum Group: $30.92, down 7.1 percent

Market indicators

First quarter results * Dow Jones Industrials, up 1.5 percent * S&P 500, up 0.8 percent * Nasdaq, down 2.8 percent.

Despite a drop in stock prices Thursday, most major indicators ended the first quarter up for the year – even after one of the worst starts early this year in the stock market.

Among the publicly traded companies in the Chattanooga area, results were mixed in the first quarter with three stocks up and four stocks down in the first three months of 2016.

The Dow Jones industrial average and Standard & Poor’s 500 index, both of which were down more than 10 percent last month, finished the quarter higher than they were at the end of 2015. The Nasdaq exchange is still down 2.8 percent so far this year.