Investors Respond To Disappointing Report On Durable Goods Orders And Batch Of Mixed Corporate Earnings

Equity markets finished the session with mixed results. Ken Meyers has your stock market report on the Acadiana Business Index.

The Dow Jones Industrial Average fell 43 points to 14,676, the S&P 500 was unchanged at 1578 and the NASDAQ ended less than a point higher with the index at 3269.
Stocks traded in a narrow range throughout the session as investors responded to a disappointing report on durable goods orders and a batch of mixed corporate earnings.
Seven of the 10 sectors on the S&P ended higher led by gains in material stocks. Shares of Freeport-McMoRan gained 4.4% to $29.78 as gold prices advanced 1.5% to $1429 an ounce. On the earnings front, Yum! Brands added 7% to $68.65 and Boeing was higher by 3% to $90.83 after both companies topped analysts’ estimates in the quarter. On the downside, AT&T gave up 5% to $37.04 as the company posted disappointing revenues and reported a net loss in cell phone subscribers.
Composite volume on the NYSE was over 3.5 billion shares with advancing issues besting decliners by a 2-1 margin. The NASDAQ was 7-3 positive on issues.
Turning to fixed income markets, Treasuries were modestly higher along the curve. The benchmark 10-year note was up 1/16 of a point to yield 1.70% and the 30-year bond gained 9/32 to yield 2.89%.

For the complete report, click Ken's Market Report.