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

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

"The primary focus, in our opinion, will be on whether Q3 results will indeed be the trough in this earnings cycle and if forward quarters will exhibit a gradual acceleration in growth," said Sam Stovall, chief equity strategist at S&P Capital IQ. "The bar has been set so low for third-quarter S&P 500 earnings per share growth that some would say it is 'underground.'"

The FTSE 100 in London closed down 0.19% and the DAX in Germany finished down 0.28% on Tuesday. The Nikkei Average in Japan closed down 0.12% amid concerns over the outlook for corporate earnings. Hong Kong's market was closed for a public holiday.

November crude oil futures fell 59 cents to settle at $91.89 a barrel. December gold futures closed down $7.70 at $1,775.60 an ounce.

The benchmark 10-year Treasury rose 1/32, diluting the yield to 1.626%. The greenback lost 0.09%, according to the dollar index.

In corporate news, Mosaic (MOS) shares tumbled 3.9% after the fertilizer company reported a fiscal first-quarter net income that declined 18%, with results coming in below expectations, weighed down by production issues that hurt sales volumes and weaker prices for its phosphate fertilizer.

Automaker Ford (F) said its September U.S. sales fell 0.1%; analysts were expecting an increase of 0.7%. Shares skidded 1.4%.

General Motors (GM - Get Report) reported that its September U.S. sales rose 1.5%, a bit below the 1.9% increase expected by analysts.

On the same day, in an appearance at the Value Investing Congress, Greenlight Capital's head honcho David Einhorn discussed the benefits of a long investment thesis on GM, which he believes could earn as much as $6 per share in 2014. GM shares finished up 2.6%.

ArQule (ARQL - Get Report) shares plummeted 56.3% after the cancer therapeutics company announced that it will stop its clinical trials on a lung-cancer drug after it was deemed to be ineffective in meeting targets on improving patient survival.

PetSmart (PETM), the pet products retailer, was named to join the S&P 500, replacing Sunoco (SUN), which is being acquired by Energy Transfer Partners (ETP). PetSmart shares rose 1.5%.

--Written by Andrea Tse and Joe Deaux in New York.

>To contact the writer of this article, click here: Andrea Tse.

2 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
ARQL $1.65 0.00%
GM $27.71 0.00%
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs