This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks Finish Mixed as Apple Weighs

NEW YORK ( TheStreet) -- U.S. stocks finished mixed Wednesday as investors reacted to another round of spotty earnings reports and disappointing new home sales data.

Growing chatter about the prospect of more monetary stimulus from the Federal Reserve provided some support for equities. According to The Wall Street Journal, voices in favor of taking action are getting louder ahead of the central bank's policy meeting next week. Gold, which is generally seen as benefiting from additional quantitative easing, jumped more than $30 to soar above $1600 an ounce.

Selling pressure on Apple was a big headwind to overcome though as the stock lost more than 4% after the company's surprise earnings miss.

The Dow Jones Industrial Average advanced nearly 59 points, or 0.47%, to settle at 12,676. The blue-chip index, which ranged from 12,617 to 12,732 on the day, snapped a streak of three consecutive triple-digit declines.

Nineteen of the Dow's 30 components finished with gains, led by Boeing (BA), Cisco (CSCO), AT&T (T) and Caterpillar (CAT). Both Boeing and Caterpillar were lifted by solid quarterly reports.

Hewlett-Packard (HPQ), Microsoft (MSFT) and Kraft Foods (KFT) were the biggest blue-chip losers.

The S&P 500 was down fractionally, closing at 1338. The Nasdaq lost nearly 9 points, or 0.31%, to close at 2854.

The weakest sectors in the broad market were technology, consumer cyclicals and utilities. The health care, conglomerates and basic materials sectors were areas of strength.

The latest piece of soft data came from the housing market, which has been the one bright spot in the economy over the past few months. The Commerce Department said new home sales fell 8.4% in June to seasonally adjusted annual rate of 350,000, from May's upwardly-revised rate of 382,000. Economist surveyed by Thomson Reuters expected sales to rise to seasonally adjusted annual rate of 370,000.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.15 -1.10%
RSH $0.31 12.76%
FB $117.70 0.23%
GOOG $696.97 0.67%
YHOO $35.98 -0.10%


Chart of I:DJI
DOW 17,659.34 -91.57 -0.52%
S&P 500 2,048.00 -15.37 -0.74%
NASDAQ 4,718.88 -44.3440 -0.93%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs