This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Dow Closes Lower; Nasdaq, S&P 500 Edge Up

Stocks in this article: ^DJI ^GSPC ^IXIC JPM F GM BA PETM MOS ARQL


NEW YORK ( TheStreet) -- U.S. stocks booked another mixed finish on Tuesday as investors awaited clarity on the timeline for a potential request for bailout funds from Spain.

The Dow Jones Industrial Average fell 33 points, or 0.24%, to close at 13,482. The blue-chip index is now up 10.35% so far in 2012.

Breadth was negative with decliners ahead of advancers, 19 to 11. The biggest percentage decliners were American Express (AXP), du Pont (DD), McDonald's (MCD), and Procter & Gamble (PG).

JPMorgan (JPM) shares were down a nickel following news that New York has filed a civil complaint against the bank alleging fraud in relation to the sale of toxic residential mortgage-backed securities during the financial crisis.

Shares of Boeing (BA) fell 0.69% after the company's engineers and technical workers' union rejected a contract offer late Monday. The union represents 23,000 workers. Talks on an agreement are expected to resume Tuesday.

Dow gainers included Chevron (CVX), UnitedHealth Group (UNH), and Microsoft (MSFT).

The S&P 500 added a little more than a point, or 0.09%, to settle at 1446, while the Nasdaq rose nearly 7 points, or 0.21%, to finish at 3120, getting a boost from a turnaround in Apple (AAPL), which closed up after being down for most of the session.

The strongest sectors in the broad market were health care, utilities and consumer non-cyclicals. Only the basic materials sector finished in the red.

Volume totaled 3.28 billion on the New York Stock Exchange and 1.61 billion on the Nasdaq. Losers were narrowly ahead of winners on both exchanges.

There is still a fair amount of uncertainty to deal with across the pond as most of Tuesday's headlines were looking ahead to future scenarios. Reuters reported Spain could make a formal request for bailout funds for its public finances as early as next weekend, citing anonymous senior European sources, but Germany has signaled that it believes Spain should hold off as German Finance Minister Wolfgang Schaeuble emphasized that the country is taking all the right steps to overcome its fiscal problems and doesn't need a bailout.

There was also evidence of growing caution on Wall Street about third-quarter earnings season, which will pick up steam later this month. Analysts are expecting a year-over-year decline in earnings for the components of the S&P 500.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs