Stocks are going nowhere
REUTERS/Lucas Jackson
Near 9:56 a.m. ET, the Dow was up 72 points, the S&P 500 was up 5 points, and the Nasdaq was down 3 points.
The biggest mover on the Dow was DuPont, up 10%, after the agricultural giant cut its full-year earnings forecast and announced its CEO's resignation on Monday.
Stocks had a big rally yesterday, which brought the Nasdaq into positive territory for the year and gained the Dow 300 points.
In economic data, the trade deficit rose to $48.3 billion in August, following a jump in imports of consumer goods and products from China.
After the market close, the American Petroleum Institute will release weekly data on crude oil inventories.
The Energy Information Administration released its latest short term energy outlook this morning, and estimated that US crude oil production fell by 120,000 barrels per day in September.
The EIA projects that US household spending on natural gas and heating oil this winter will be lower year-on-year because of lower prices.
PepsiCo reported earnings results this morning, beating expectations on adjusted earnings and sales. The company also reported a decline in unadjusted profits to $0.36 per share from $1.32, following the write down of its struggling Venezuela operations that cost it about $1.4 billion.
Yum Brands reports earnings after the market close.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore