Stocks in Red Ahead of Fed Minutes
Stocks are lower in mid-day trading, with all three major indexes currently in red, as investors await the release of minutes of Federal Reserve’s most recent monetary policy meeting.
At last check, the Dow Jones was trading 0.56% lower at 13,130.09, the S&P 500 was trading 0.43% lower at 1,407.13, and the Nasdaq was trading 0.29% lower at 3,058.37.
All sectors in the S&P 500 are currently in red. Basic Materials and Energy sectors are leading the losses in the S&P 500 in mid-day trading. At last check, Basic Materials sector was down 0.86%, while Energy sector was down 0.85%. Industrials have also fallen sharply in mid-day trading today. At last check, the sector was down 0.79%. Conglomerates are currently trading 0.67% lower. Consumer Non-Cyclical sector is currently trading 0.76% lower. Technology sector is down 0.63% in mid-day trading.
Among the major losers in trading currently are Dell Inc. (NASDAQ: DELL), which is currently trading 6.77% lower at $11.51, Health Care REIT Inc. (NYSE: HCN), which is currently trading 3.30% lower at $57.78, Express Inc. (NYSE: EXPR), which is currently trading 11.24% lower at $15, and Yelp Inc. (NYSE: YELP), which is currently trading 6.47% lower at $17.77.
Among the major gainers in trading currently are Williams-Sonoma Inc. (NYSE: WSM), which is currently trading 11.40% higher at $42.59, American Eagle Outfitters (NYSE: AEO), which is currently trading 7.73% higher at $22.44, and Arena Pharmaceuticals Inc. (NASDAQ: ARNA), which is currently trading 7.93% higher at $8.71.
On the economic front, a report released by the National Association of Realtors earlier today showed that existing home sales rose 2.3% to an annual rate of 4.47 million units in July. Economists were expecting existing home sales to rise to an annual rate of 4.52 million.
Investors are waiting for the minutes of Fed’s most recent meeting. The minutes will be released at 2 PM EST.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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