Stocks Finish Mixed – Acadiana Business Index
- The Dow Jones Industrial Average gave up 14 points to 13,882, the S&P 500 fell 3 points to 1500, and the NASDAQ gained 5 points to close at 3154. The major averages toggled between gains and losses throughout the session as investors digest mixed economic reports and corporate earnings reports.
- Looking at the data, durable goods orders and manufacturing in the Dallas region topped expectations, while pending home sales declined significantly more than estimates.
- Overall, six of the 10 sectors on the S&P ended lower, led by declines in material stocks. Shares of U.S. Steel weighed on the space, down 82 cents to $23.71 after receiving an analyst downgrade. On the earnings front, Caterpillar advanced $1.87 to $97.45 after reporting their quarterly results. Tech stocks were active in the session with Apple rallying $9.95 to $449.83. Also in the space, Yahoo! gave up a modest 6 cents to end at $20.31 ahead of their scheduled earnings release after the closing bell.
- Composite volume on the NYSE was 3.3 billion shares with declining issues besting advancers by a 4-3 margin. The NASDAQ was 4-3 positive on issues.
- Turning to fixed income markets, Treasuries are lower along the curve. The benchmark 10-year note is down 5/32 to yield 1.97% and the 30-year bond is off 7/32 to yield 3.15%.
For the complete report, click Ken's Market Report.