After three days of triple-digit gains, the Dow Jones
Industrials Average is struggling to stay on the plus side today
with stocks trading flat to slightly lower.
Prospects for a peaceful resolution to the conflict in Syria
appear to have taken a slight turn for the worse after Russian
President Vladimir Putin criticized U.S. actions thus far in the
conflict, rekindling worries over a possible military strike. The
markets also increasingly are looking to next week's meeting of the
Federal Open Markets Committee and the central bank's likely
decision to scale back its massive bond-buying stimulus
A large, apparent drop in first-time unemployment insurance
claims is now generating scant market interest after the Labor
Department explained last week's 31,000 decline in initial claims
was significantly influenced by computer issues in reports from two
In other economic news today, export prices fell 0.5% during in
August, lagging market consensus for a 0.1% increase. Import prices
also came in below consensus, with little change last month
compared to the prior month while trailing estimates for a 0.5%
In Europe, stocks finished little changed in concert with U.S.
markets. Initially, however, indices were pressured by weaker than
expected EU economic data and dovish comments regarding UK interest
rates from Bank of England Governor Mark Carney. EU industrial
production fell while the Greek jobless rate notched higher,
sparking concerns of a continued bail-out.
Crude oil was up $0.52 to $108.13 per barrel. Natural gas was up
$0.08 to $3.72 per 1 million BTU. Gold was down $33.30 to $1,330.60
an ounce, while silver was down $0.89 to $22.28 an ounce. Copper
was down $0.05 to $3.20 per pound.
Among energy ETFs, the United States Oil Fund was up 0.74% to
$38.77 with the United States Natural Gas Fund was up 2.59% to
$19.19. Amongst precious-metal funds, the Market Vectors Gold
Miners ETF was down 3.88% to 25.80 while SPDR Gold Shares were down
2.42% to $128.49. The iShares Silver Trust was down 3.81% to
Here's where the U.S. markets stand at mid-day:
NYSE Composite Index down 34.87 (-0.36%) to 9,620.51
Dow Jones Industrial Average down 38.74 (-0.25%) to
S&P 500 down 5.91 (-0.35%) to 1,683.22
Nasdaq Composite Index down 7.73 (-0.21%) to 3,717.28
Nikkei 225 Index down 0.26%
Hang Seng Index up 0.07%
Shanghai China Composite Index up 0.64%
FTSE 100 Index up 0.01%
CAC 40 down 0.30%
DAX down 0.02%
NYSE SECTOR INDICES NYSE Energy Sector Index -0.24%
NYSE Financial Sector Index -0.48%
NYSE Healthcare Sector Index -0.31%
(+) NTWK (+14.7%) Q4 earnings of $0.35 beat estimates by $0.13
(+) P (+9.5%) Former Microsoft (
) executive Brian McAndrews is named new CEO.
(+) MFRI (+7.4%) Q2 earnings rose to $0.62 per share, reversing
$0.20 net loss last year. Sales rose 44% year over year to $62
(-) MW (-10.6%) Posts disappointing Q2 earnings with EPS of
$1.01 versus estimates expecting $1.14 per share.
(-) LULU (-6.3%) Q2 profit falls 1.3% and the yoga-wear company
slashes Q3 forecasts.
(-) NFLX (-1.8%) Video-streaming company was downgraded today by
both Morgan Stanley and BTIG.
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