Stocks turn mixed near close
Wednesday, November 17, 2021 4:45 PM

Related Stories

In New York, equities ended mixed Wednesday after trading in a narrow range for most of the day as investors weighed inflation and housing reports.

The Dow Jones Industrials settled back 15.62 points to close at 11,007.90

The S&P 500 tacked on 0.25 points to 1,178.59. The tech-rich Nasdaq Composite Index prospered 6.17 points to 2,476.01.

Home Depot and Hewlett Packard were the biggest losers on the Dow. But Caterpillar, McDonald's and Travelers all bucked the trend.

The mixed performance came after government reports showed consumer prices held near historic lows in October, while new home construction was weaker than expected in the month.

Some traders said the inflation data mean the Federal Reserve has additional leeway to support the economy and asset prices. But others worry that inflation is too low, and that the central bank's actions could drive prices higher as money flows into commodities markets.

Shares of NetApp were halted late Wednesday after parts of its quarterly report were leaked.

The data storage company said it earned 52 cents U.S. per share in its second quarter on sales of $1.2 billion U.S. Analysts had expected earnings of 49 cents and sales of $1.19 billion U.S., according to Thomson Financial.

But NetApp offered a sales outlook that fell short of Wall Street expectations. The company forecasts revenues in the range of $1.24 billion and $1.29 billion U.S. in the current quarter, compared with analysts' expectations of $1.2 billion to $1.3 billion U.S.

Discount retailer Target reported a third-quarter, earnings per share increase of 28.5%, to 74 cents U.S. per share from 58 cents U.S. per share in the same period a year earlier. Shares of Target shares rose 3.3%.

After the closing bell, Applied Materials will report third-quarter earnings. Analysts surveyed by Thomson Reuters expect earnings per share of 31 cents U.S.

General Motors' IPO size was increased Wednesday to 478 million shares of common stock, bringing the total it could raise from its offering to nearly $20 billion U.S. The offering is expected to price later in the day.

Economically speaking, the Consumer Price Index, a key measure of inflation, increased 1.2% over the past 12 months ending in October, the government said.

After stripping out volatile food and energy prices, the core CPI rose 0.6% on an annual basis -- the smallest annual price increase since the government started recording the data in 1957.

On a monthly basis, CPI rose 0.2% in October. Economists surveyed by had expected a 0.3% uptick. The increase was largely due to an increase in energy prices, the report said. Core CPI was flat on a monthly basis, slightly lower than economists' forecasts for a 0.1% increase.

Another government report showed that housing starts fell 11.7% to an annual rate of 519,000 units in October. That was lower than expected. Housing starts were forecast rose to a 600,000 rate in October.

Building permits, considered a leading indicator of construction activity, reached an annual rate of 550,000 units in October. This was less than the projected rate of 570,000, but more than September's annual rate of 547,000

The price on the benchmark 10-year U.S. Treasury inched up, pushing the yield down to 2.81% from 2.85% late Tuesday. Treasury prices and yields move in opposite directions.

Oil faded in price $1.98 a barrel to $80.36 U.S. The price of an ounce of gold nipped up 24 cents to $1,335.49 U.S.

(Source: )
(Source: Quotemedia)


Symbol :


Market news:

  • James has triple-double, dominates again at MSG Dec 18, 2021 01:26 AM

    • NEW YORK - LeBron James always said he loved playing here.
    • James delivered another vintage performance at Madison Square Garden, scoring 32 points and finishing with his 30th career triple-double to help the Miami Heat beat the New York Knicks 113-91 for their 11th straight victory.
    • 6 jersey he hoped would belong to James - New York surged back to tie it at 57 at halftime.
      • Bones found on island might be Amelia Earhart's Dec 18, 2021 01:02 AM

        • NORMAN, Okla. - The three bone fragments turned up on a deserted South Pacific island that lay along the course Amelia Earhart was following when she vanished.
        • Now scientists at the University of Oklahoma hope to extract DNA from the tiny bone chips in tests that could prove Earhart died as a castaway after failing in her 1937 quest to become the first woman to fly around the world.
        • "There's no guarantee," said Ric Gillespie, director of the International Group for Historic Aircraft Recovery, a group of aviation enthusiasts in Delaware that found the pieces of bone this year while on an expedition to Nikumaroro Island, about 1,800 miles south of Hawaii.
          • $7.2B is recovered for Madoff's victims Dec 18, 2021 01:02 AM

            • NEW YORK - Many of Bernard Madoff's victims who thought they lost everything could get at least half their money back after the widow of a Florida philanthropist agreed Friday to return a staggering $7.2 billion that her husband reaped from the giant Ponzi scheme.
            • Picower was the single biggest beneficiary of Madoff's fraud.
            • He commended Picower's widow, Barbara, "for agreeing to turn over this truly staggering sum, which really was always other people's money."
              • SKorea to hold firing drills despite NKorea threat Dec 18, 2021 01:02 AM

                • SEOUL, South Korea - South Korea said Saturday it will go ahead with artillery drills on a border island shelled by North Korea last month despite Pyongyang's threat to retaliate again, as Russia and China expressed concerns over tension on the volatile peninsula.
                • Four people died last month in the North's attack on Yeonpyeong Island near the tense sea border.
                • However, Russia's Foreign Ministry expressed its "extreme concern" Friday over the drills and urged South Korea to cancel them to prevent a further escalation of tension.
                  • WikiLeaks chief says US preparing to indict him Dec 18, 2021 01:02 AM

                    • BUNGAY, England - The founder of WikiLeaks said Friday he fears the United States is preparing to indict him, but insisted that the government secret-spilling site would continue its work despite what he calls a dirty tricks campaign against him.
                    • Julian Assange spoke from snowbound Ellingham Hall, a supporter's 10-bedroom country mansion where he is confined on bail as he fights Sweden's attempt to extradite him on allegations of rape and molestation.
                    • Attorney General Eric Holder has said repeatedly a criminal investigation of the WikiLeaks' continuing release of some 250,000 secret U.S. State Department cables is under way and that anyone found to have broken the law will be held accountable.

                      More news


    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
jomariXXXXX CVG$0.31
mrbilltraderXXXXX POT$1.59
sam farahanXXXXX TECD$0.95
adfgafg ERTS$0.48