Midday Report: Stocks Mixed in Choppy Trading After Paris Attacks
Stocks are mixed after snapping a six-week winning streak on Wall Street last week as markets still grapple with the aftermath of the Paris terrorist attacks on Friday and receiving mixed factory data. Boston Fed President Eric Rosengren seemed confident in a Sunday interview that interest rates should be raised, but questioned how fast.'Let's make sure this is actually a successful lift-off, let's not tighten so much that we weaken the economy and create a negative shock, and let's make sure we don't delay for so long that we get built-up inflationary pressures that cause us to react more in the future,' he told the Financial Times. The Empire State Manufacturing Survey for November came in at minus 10.74, which was below expectations. The report indicated there were signs of weakness in New York's manufacturing sector. Chinese online retailer JD.com (JD) gained over 8% after it reported a third-quarter adjusted loss of 6 cents per American depositary share on revenue of $6.95 billion. Urban Outfitters (URBN) shares slumped almost 8% in midday trading as investors wait for the earnings to be reported later Monday. This week is heavy on earnings from retailers, as investors look forward to Walmart (WMT), Target (TGT), Home Depot (HD) and Best Buy (BBY) set to release results.
