Stocks Mostly Lower but Tech Standouts Keep Losses Small; Dec. Home Sales Also Bullish

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Stocks are slightly lower at mid-day, taking a breather following three days of gains although the Dow Jones Industrial Average is holding onto a 0.3% rise largely supported by three large technology companies that topped analyst projections with their quarterly earnings last night. The gains by Microsoft ( MSFT ), Intel ( INTC ) and IBM ( IBM ) also are working to offset declines by General Electric Co. ( GE ) and American Express ( AXP ), two other Dow components today trading lower after their revenues in the December quarter failed to meet expectations.

It is a relatively light day for economic news, with sales of previously owned U.S. homes climbing for a third month during December to an annualized rate of 4.61 million homes, its highest level in nearly a year. Commodities are mostly lower, although gold is up about $4 to $1,658 an ounce.




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This article appears in: Investing , Commodities

Referenced Stocks: AXP , GE , IBM , INTC , MSFT

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