Stocks Sell Off, Finish Near Lows
The international markets were mixed Tuesday. The FTSE in London closed up 0.36% and the DAX in Germany finished up 0.16%. Hong Kong's Hang Seng index settled up 0.02% and the Nikkei in Japan closed up 0.25%.
The benchmark 10-year Treasury rose 12/32, pushing the yield down to 1.672%. The greenback was up 0.16%, according to the dollar index.
November crude oil futures settled down 56 cents to $91.37 a barrel, while December gold futures gained $1.80 to settle at $1,766.40 an ounce.
In corporate news, Enterprise Products Partners (EPD) shares fell 2.1% after the Houston-based the oil-and-gas pipeline operator said it has priced a public offering of eight million common units representing limited partner interests and proceeds will be used to temporarily reduce borrowings under its multi-year revolving credit facility and for general partnership purposes.Carnival (CCL) shares rose 0.22% after the cruise company posted third-quarter earnings that surpassed Wall Street estimates and noted that cruise prices could rebound next year. Red Hat (RHT), the software maker, on Monday came in a penny short of Wall Street's profit expectations for its fiscal second quarter. Shares were down 4.2%. Paychex (PAYX), the payroll processor, on Monday posted fiscal first-quarter earnings that narrowly topped analysts' estimates. Shares fell 2.7%. Forward Air (FWRD) shares tumbled 11.4% after transportation and logistics company reduced its third-quarter outlook, citing softer-than-anticipated airport-to-airport volumes, which has been hurt by macroeconomic weakness. Tesla (TSLA) shares plummeted 9.4% after the electric vehicle company slashed its full-year revenue estimates.
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