Stock Market
Stocks Finish Red Despite Better Beige Book
Time Warner(TWX) said its second-quarter profit dropped 34%. That was also better than expected on an adjusted basis, and it reaffirmed its full-year outlook, although revenue was weaker than anticipated. Shares gave up 1.8% to $26.52.
Elsewhere, ConocoPhillips said its profit fell 76%, but that was still better than expected. Revenue was halved and didn't live up to expectations. In other news, Yahoo!(YHOO) and Microsoft(MSFT)confirmed their Internet-search partnership on Wednesday. Stocks overseas were mixed. In Europe, Frankfurt's DAX and London's FTSE 100 were up 1.9% and 0.4%, respectively. In Asia, Hong Kong's Hang Seng lost 2.4%, while Japan's Nikkei tacked on 0.3%. Longer-dated Treasuries were rising in price, falling in yield. The 10-year was up 5/32 to yield 3.66%, while the 30-year added 16/32, yielding 4.52%. -- Reported by Elizabeth Trotta in New York.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
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