The Herald Bulletin

Afternoon Update

Nation & World

July 30, 2013

Waiting for Bernanke, stocks plod indecisively

NEW YORK — On the stock market Tuesday, it felt like late-summer inertia had already set in.

U.S. stocks wandered between the tiniest of gains and losses before closing mixed. Traders were indecisive as companies reported disparate earnings news, and many were disinclined to make any big moves before getting direction from the Federal Reserve, which is scheduled to release an updated policy statement Wednesday.

The calendar said late July, but on the stock exchange it seemed more like August, when many traders take off for vacation and fewer stocks trade hands. The Dow Jones industrial average rose as much as 72 points in early trading — less than 0.5 percent — before flickering lower. It dipped into the red for most of the afternoon and closed down 1.38 points, or 0.01 percent, at 15,520.59.

"It seems like the doldrums of summer have set in," said Dave Abate, senior wealth adviser at Strategic Wealth Partners in Seven Hills, Ohio.

The Nasdaq composite rose 17.33 points, or 0.5 percent, to 3,616.47, though even that gain was largely because Apple, its biggest component, was up more than 1 percent.

The Standard & Poor's 500 index plodded just a fraction higher, up 0.63 point, or 0.04 percent, to 1,685.96. Three of its industry sectors rose, led by technology stocks. Seven fell, dragged down by telecommunications companies.

Company earnings were equally inconclusive. Coach, the maker of upscale handbags, slumped 8 percent after reporting lower quarterly profit. But Goodyear Tire & Rubber jumped 9 percent after announcing that its quarterly earnings had doubled.

This earnings season has presented a picture encouraging on some fronts and troubling on others. Many companies, including big names like Apple and Visa, have posted better-than-expected results, and analysts predict that second-quarter earnings are up 4.7 percent for companies in the S&P 500, according to S&P Capital IQ. But the picture has its blemishes, including the fact that many of the gains are based not on business growth but on cost-cutting: Revenue is down about 0.5 percent.

Text Only
Nation & World
  • Oklahoma police chief resigns over racial slur repost to Facebook

    A repost on his personal Facebook page of a racially-charged comment by the original poster of a comedy video has forced the police chief of an Oklahoma city to resign his office.

    August 21, 2014

  • US existing home sales rise for 4th straight month

     Sales of existing U.S. homes rose for the fourth straight month in July to their highest level in nearly a year, the latest sign that the housing recovery is picking up after stumbling at the start of the year.

    August 21, 2014

  • Aid group: US doctor who had Ebola has recovered

    At least one of the two American aid workers who were infected with the deadly Ebola virus in Africa has recovered and was to be discharged Thursday from an Atlanta hospital, a spokeswoman for the aid group he was working for said.

    August 21, 2014

  • Holder bringing personal perspective to Ferguson

     Eric Holder talks about the nation's civil rights struggles in a way no previous U.S. attorney general could — by telling his own family story.

    August 20, 2014

  • Senate control could rest with well-funded women

    Control of the Senate could lie in the fortunes of female candidates and the deep-pocketed donors, like former New York Mayor Michael Bloomberg, who are sending piles of cash their way.

    August 20, 2014

  • Iraq forces retake Mosul Dam; militants deny claim

    Boosted by two days of U.S. airstrikes, Iraqi and Kurdish forces on Monday wrested back control of the country's largest dam from Islamic militants, a military spokesman in Baghdad said as fighting was reported to be underway for the rest of the strategic complex.

    August 18, 2014

  • US stocks open higher; Family Dollar jumps

     U.S. stocks are opening higher, following gains in Europe.

    August 18, 2014

  • Federal autopsy ordered in Missouri teen's death

    Attorney General Eric Holder on Sunday ordered a federal medical examiner to perform another autopsy on a black Missouri teenager whose fatal shooting by a white police officer has spurred a week of rancorous and sometimes-violent protests in suburban St. Louis.

    August 17, 2014

  • news_missingamish.jpg Official: Amish girls sexually abused in abduction

    Two young Amish sisters were sexually abused after their abduction from a roadside farm stand in northern New York, a prosecutor said Saturday.

    August 17, 2014 1 Photo

  • Ukraine [Duplicate] Ukraine says troops entered rebel-held city

    Ukraine's government said Sunday that separatists shot down a Ukrainian fighter plane after army troops entered deep inside a rebel-controlled city in the east in what could prove a breakthrough development in the four-month long conflict.

    August 17, 2014 1 Photo

More Resources from The Herald Bulletin
AP Video
Japan Landslide Rescuers Struggle in Heavy Rain Raw: Severe Floods, Fire Wrecks Indiana Homes Endangered Red Wolves Face Uncertain Future Raw: Russian Aid Convoy Arrives in Ukraine Hamm Talks Emmy Chances Okla. Policeman Accused of Sex Assaults on Duty Raw: Egypt Bus Crash Kills at Least 33 Two Bodies Found in Adjacent Yards Dominican Republic Bans Miley Cyrus Concert Raw: Israeli Air Strike in Gaza Raw: Rescue Efforts Suspended at Japan Landslide Raw: Bodies of MH17 Victims Arrive in Malaysia Raw: Smaller Marches in Ferguson Attorney: Utah Eatery Had Other Chemical Burn Farm Resurgence Grows With Younger Crowd Microbrewery Chooses Special Can for Its Beer Ky. Firefighters Hurt in Ice Bucket Challenge Federal Investigation Will Look at Use of Force Community Deals With Michael Brown Aftermath US: We Do Not Pay Ransom to Terrorists
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Helium debate
Helium