Stocks are mixed at midday with strength in Apple (
) and biotechs lifting the tech-heavy Nasdaq Composite index, while
the Dow Jones Industrial Average continues to be plagued by
geo-political developments as well as losses for component
companies Boeing (
) and McDonalds (
). The S&P 500 touched another all-time high of 1,989, but
strong resistance into 1,990 is currently stifling additional
Although futures were higher into the open with
better-than-expected earnings from AAPL, Biogen Idec (
) and Pepsi (
), equities began to unwind early gains on reports of two Ukrainian
fighter jets shot down by Russian separatists, less than a week
after the downing of a Malaysia Airlines jet. Blue-chips continued
to deteriorate on rekindled geo-political worries, but the S&P
500 and Nasdaq proved resilient and remained in positive
European equities closed with modest gains as the economic
fall-out on Europe from Russian sanctions coupled with global
uncertainty is expected to keep the Bank of England from raising
rates and the European Central Bank likely to increase
accommodation. Minutes from the July BOE policy meeting showed that
all members voted to keep interest rates unchanged, offsetting
pressure triggered by developments in Eastern Europe.
Crude oil was up $0.65 to $103.04 per barrel. Natural gas was up
$0.03 to $3.82 per 1 million BTU. Gold was up $0.80 to $1,307.10 an
ounce, while silver was up $0.01 to $21.02 an ounce. Copper was
unchanged at $3.21 per pound.
Among energy ETFs, the United States Oil Fund was up 0.44% to
$38.12 with the United States Natural Gas Fund was up 0.62% to
$20.96. Amongst precious-metal funds, the Market Vectors Gold
Miners ETF was up 0.38% to 26.75 while SPDR Gold Shares was up
0.01% to $125.74. The iShares Silver Trust was up 0.12% to
Here's where the markets stand at mid-day:
NYSE Composite Index up 9.93 (+0.09%) to 11,026.18
Dow Jones Industrial Average down 42.16 (-0.25%) to
S&P 500 up 1.80 (+0.09%) to 1,985.33
Nasdaq Composite Index up 11.48 (+0.26%) to 4,467.50
Nikkei 225 Index down 0.10%
Hang Seng Index up 0.80%
Shanghai China Composite Index up 0.14%
FTSE 100 Index up 0.04%
CAC 40 up 0.16%
DAX up 0.20%
NYSE SECTOR INDICES
NYSE Energy Sector Index up 0.05%
NYSE Financial Sector Index up 0.23%
NYSE Healthcare Sector Index up 0.06%
(+) PEP (+2.80%) Q2 beats, boosts 2014 guidance and activist
Nelson Peltz gains support for board seat.
(+) TLM, TLM. TO (+11.27%) Approached by Spanish energy giant
Repsol about various transactions.
(+) NQ (+18.62%) Forming a partnership with A Wireless to
provide software security.
(+) ISRG (+14.56%) Beat Q2 earnings estimates.
(+) BIIB (+10.96%) Receives European approval for Plegridy
Multiple Sclerosis drug,
(-) CKSW (-7.69%) Reports wider Q2 loss vs street, beats on
revenue but cuts FY EPS view.
(-) CAT (-1.43%) Total machine sales fall 10% YoY in three
months through June.
(-) JNPR (-10.31%) Set Q3 guidance below street consensus.
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