Stock Market Watch

Stocks Turn Lower on Durable Goods Data

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Stocks have turned lower in trading today as investors’ sentiment has been weighed down by weaker than expected durable goods data for February. According to figures released by the Commerce Department, durable goods orders rose 2.2% in February, below economists’ forecast of a gain of 3%.

All three major indexes are currently in red. The Dow Jones is currently trading 0.29% lower at 13,159.70, the S&P 500 is currently trading 0.46% lower at 1,405.99, and the Nasdaq is currently trading 0.39% lower at 3,108.12.


All sectors in the S&P 500 are down sharply in trading today. Basic Materials and Energy stocks are leading the losses in the S&P 500 in trading currently. At last check, Basic Materials stocks were trading 1.46% lower, while Energy stocks were trading 1.39% lower. Transportation stocks are currently trading 0.70% lower. Industrials are down sharply following weaker than expected durable goods data. At last check, Industrials were trading 1.07% lower. Consumer Non-Cyclical stocks are currently trading 0.54% lower.

Among the major losers in trading currently are Jos.A.Bank Clothiers Inc. (NASDAQ: JOSB), which is currently trading 8.64% lower at $49.78, Teavana Holdings Inc. (NYSE: TEA), which is currently trading 3.69% lower at $19.82, and SYNNEX Corporation (NYSE: SNX), which is currently trading 13.45% lower at $37.77.

Among the major gainers in trading currently are Pentair Inc. (NYSE: PNR), which is currently trading 14.85% higher at $46.24, and Tyco International Ltd. (NYSE: TYC), which is currently trading 4.15% higher at $55.75.

Oil prices have fallen sharply following a bigger than expected build up in crude inventories. According to a report by the Energy Department, crude stocks rose by 7.1 million barrels last week, compared with forecast of 2.2 million barrels. At last check, NYMEX crude was down 1.9% to $105.26 a barrel.

 

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edliston
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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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.

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