Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Steady in Mid-Day Trading

Tuesday, January 29, 2013 1:17 PM
U.S. stocks were steady in mid-day trading, with the Nasdaq paring most of its earlier losses by as string of strong earnings reports from wide ranging industries lifted the sentiment notwithstanding drop in consumer confidence index and some unease ahead of the Federal Reserve’s monetary policy statement on Wednesday. At last check, the Dow Jones Industrial Average Index edged up 0.40%; the NASDAQ Composite Index slipped 0.04% while the S&P 500 Index gained 0.32%. Among all key S&P 500 sectors, energy and telecoms rallied while tech and consumer discretionary stocks lagged, according to Thomson Reuters. Shares of Valero Energy Corporation (NYSE: VLO) leaped nearly 9% by midday trade on Tuesday after petroleum refining and marketing company reported better-than-expected fiscal fourth quarter earnings. Shares of drug makers Pfizer Inc. (NYSE: PFE) and Eli Lilly & Co. (NYSE: LLY) gained on Tuesday after both companies’ quarterly earnings topped Wall Street’s forecasts. In spite of sharp drop in quarterly earnings and decline in sales during the fiscal fourth quarter, shares of Boston Scientific corporation (NYSE: BSX) gained nearly 5% by midday trade as EPS were in line with analysts’ expectation. The Company also announced that it will be slashing another 900 to 1000 jobs in fiscal 2013 to rein in costs. A data provided by the Conference Board showed that consumer confidence index fell to 58.6 in January from 66.7 in December. Economists polled by Reuters were expecting index dropping to 64.0 The S&P/Case-Shiller home price index for 20 metro areas tacked higher 0.6 percent in November on a seasonally adjusted basis after a 0.6 percent uptick in October. The gain was in line with expectations. The Federal Reserve’s two-day FOMC will conclude tomorrow and investors are hoping to receive some hints from central bank as to the longevity of its ongoing quantitative easing. In Europe, equities ended mainly higher on Tuesday with Stoxx 600 edging up 0.32%; FTSE ending 0.71% higher while DAX gaining 0.20%.    
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Fed dot chart illusions: James SaftFed dot chart illusions: James Saft
(Reuters) - Like one of those old Op-Art posters beloved of hippies, staring too long into the Fed’s dot chart of interest rate expectations can make you see things which aren’t there. The Fed’s m...
IMF warns of risks from 'excessive' financial market betsIMF warns of risks from 'excessive' financial market bets
WASHINGTON (Reuters) - The global economy faces a growing risk from big financial market bets that could quickly unravel if investors get spooked by geopolitical tensions or a shift in U.S. interest r...
BlackRock, Goldman unconstrained bond funds double in assetsBlackRock, Goldman unconstrained bond funds double in assets
(Reuters) - Goldman Sachs and BlackRock Inc have seen their unconstrained bond funds double in size over the past 12 months as investors continue to search for yield in this low interest rate enviro...
Exclusive: Jimmy Choo to pledge industry-beating growth in expected IPOExclusive: Jimmy Choo to pledge industry-beating growth in expected IPO
PARIS (Reuters) - Luxury shoe brand Jimmy Choo will seek to woo investors with a share market flotation prospectus promising industry-beating annual sales growth of more than 10 percent on the back ...
Investors seek injunction on sale of insurer by BES successorInvestors seek injunction on sale of insurer by BES successor
LISBON (Reuters) - A group of bondholders of insolvent Espirito Santo Financial Group on Wednesday requested a court injunction against the sale of Portuguese insurer Tranquilidade by the successor of...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.