Stocks Continue to Struggle for Direction
Stocks are continuing to struggle for direction in late trading as investors remain on the sidelines ahead of a batch of corporate earnings reports this week.
At last check, the Dow Jones was trading 0.22% higher at 13,517.75, the S&P 500 was trading 0.04% lower at 1,471.46, and the Nasdaq was trading 0.22% lower at 3,118.76.
Transportation sector has been the best performer in the S&P 500 in late trading today. At last check, the sector was trading 0.54% higher. Consumer Non-Cyclical sector is also gaining in late trading. At last check, the sector was trading 0.45% higher. Healthcare sector is up 0.22% in late trading. Basic Materials sector is up 0.13%. Technology sector has been the worst performer in the S&P 500 today. At last check, the sector was trading 0.35% lower.
The Tech sector has been dragged lower by Apple Inc. (NASDAQ: AAPL). Apple shares have fallen sharply today after the Wall Street Journal, citing people with knowledge of the matter, reported that the company cut component orders for iPhone 5 due to weaker than expected demand. Apple shares fell below $500 mark earlier today before recovering. At last check, the stock was down 3.48% to $502.20.
Facebook Inc. (NASDAQ: FB) shares are also down in trading today despite a rating upgrade from Deutsche Bank. Facebook shares fell to an intra-day low of $30.62. At last check, the stock was down 1.39% to $31.28.
Other major movers in late trading today are Dell Inc. (NASDAQ: DELL), which is currently trading 13.33% higher at $12.33, Cirrus Logic Inc. (NASDAQ: CRUS), which is currently trading 9.63% lower at $28.54, and Research In Motion Limited (NASDAQ: RIMM), which is currently trading 8.19% higher at $14.67.
European markets ended mostly lower earlier today, with the EURO STOXX 50 Index closing 0.10% lower. Markets in Asia ended mostly higher overnight.
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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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