16:10 ET Dow -21.68 at 13108.1, Nasdaq +3.95 at 3077.14, S&P -1.14 at 1409.3 :[BRIEFING.COM] Equities spent the majority of today's session within points of the unchanged line. The August consumer confidence report printed at 60.6, which was the lowest level in nine months. Following the report, stocks briefly turned lower before snapping back to the unchanged line where they held for the remainder of the session.
In other economic news, the June Case-Shiller 20-city Home Price Index rose by 0.5% while a 0.3% decline had been generally expected.
The Dow Jones Transportation Average continued its recent streak of underperformance as the group shed 0.2%. Airline stocks showed the most weakness with Delta Air Lines (DAL 8.68, -0.38) down 4.0% while JetBlue Airways(JBLU 4.89, -0.13) and United Continental Holdings (UAL 18.53, -0.49) both slipped 2.6%. Meanwhile, trucking company Landstar System (LSTR 49.52, +0.65) added 1.3% as it was the only notable advancer in the group.
Coal stocks were down today as the Market Vectors Coal ETF (KOL 23.15, -0.29) ended lower by 1.2%. Elsewhere, Joy Global (JOY 53.07, -1.30) dropped 2.4% whileArch Coal (ACI 6.21, -0.17) and Peabody Energy (BTU 22.36, -0.44) dipped near 2.0% each. The declines did not appear to be news-driven. Instead, the individual names traded lower on industry-wide weakness.
The materials sector was among the weakest performers. Steelmaker AK Steel (AKS 5.23, -0.42) slumped 7.4% after UBS downgraded the stock from ‘neutral' to ‘sell' and lowered the price target from $5.50 to $4.00. Peers ArcelorMittal (MT 15.08, -0.19) and United States Steel (X 20.43, -0.18) are down between 0.8% and 1.2%.
Poultry producer Sanderson Farms (SAFM 44.05, +3.46) surged 8.5% after delivering mixed results which showed a beat on revenues and a slight earnings miss. The company cautioned against higher grain prices putting pressure on input costs, and said they will run plants at six percent below capacity until conditions improve. PeersPilgrim's Pride (PPC 5.29, +0.36) and Tyson Foods (TSN 15.62, +0.68) ended higher by 7.3% and 4.6%, respectively.
Luxury goods maker Movado (MOV 35.36, +5.25) soared 17.4% after beating earnings expectations by $0.14 a share. The quarterly report was mixed as the company missed on revenues, but raised their full-year 2013 guidance. Two more producers of luxury goods were firmly higher before reporting their earnings tomorrow morning. Jos. A Bank (JOSB 41.63, +1.41) advanced by 3.5% while Zale (ZLC 4.12, +0.29) jumped 7.6%.
Investors will look to a full slate of economic data tomorrow. The MBA Mortgage Index will be reported at 7 AM ET while GDP-second estimate will cross the wires at 8:30 AM ET. In addition, pending home sales will be announced at 10 AM ET, and the Fed's Beige Book for August will be released at 2 PM ET. ..NYSE Adv/Dec 1671/1292. ..NASDAQ Adv/Dec 1435/995.
After Hours
16:44 ET DY -10.5%, EXM flat following earnings/guidance :
Equities spent the majority of today's session within points of the unchanged line. The August consumer confidence report printed at 60.6, which was the lowest level in nine months. Following the report, stocks briefly turned lower before snapping back to the unchanged line where they held for the remainder of the session.
Today after the close the following companies reported earnings: DY, EXM
Futures are mixed after hours: S&P 500 futures are -0.06 from fair value of 1407.36 and Nasdaq100 futures are +0.52 from fair value of 2781.48.
Tomorrow morning before the open two economic reports are scheduled to be released: 1) MBA Mortgage Index, 2) GDP - Second Estimate (Consensus 1.6%) and GDP Deflator - Second Estimate (Consensus 1.6%).
Tomorrow before the open look for the following companies to report: BF.B, FRO, GCO, HNZ, ISLE, JASO, JOSB, JOY, LTXC, TFM, YGE, ZLC
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