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Stocks Turn Negative on Mixed Earnings

By: MT Newswires
Posted: 10/23/2013 12:13:00 PM
Referenced Stocks: BA;BRCM;CAT

Mixed corporate earnings and worries that China may need to fight rising inflation with higher interest rates has the U.S. markets reversing course after yesterday climbing to record highs. Reduced guidance from Catepillar ( CAT ) and Broadcom ( BRCM ) is overshadowing better-than-expected earnings from Dow component Boeing ( BA ), with the aircraft manufacturer appearing to overcome safety concerns over the lithium-ion batteries in its Dreamliner 787 jetliners to post a 16% year over year gain in earnings and lifting its stock price to a new record high.