Stocks Edge Higher in Late Trading
Stocks have edged higher in late trading, with all three major indexes currently in green. Stocks are gaining even as investors digested disappointing housing market data released earlier today.
Basic Materials sector is leading the gains in the S&P 500 in late trading today. At last check, the sector was trading 1.03% higher. Energy sector has also risen sharply in late trading. At last check, the sector was trading 0.46% higher. Transportation sector is up 0.60% in late trading. Utilities are currently trading 0.88% higher. Consumer Cyclical sector has been the worst performer in the S&P 500 in late trading. At last check, the sector was down 0.86%. Technology sector is also in red in late trading. At last check, the sector was down 0.06%.
The Tech sector has slipped as investors remain cautious ahead of earnings from technology giants International Business Machines Corp. (NYSE: IBM), Google Inc. (NASDAQ: GOOG) and Apple Inc. (NASDAQ: AAPL).While IBM and Google will report their quarterly results after-market close today, Apple will release its quarterly results on Thursday. At last check, IBM shares were trading 0.50% higher at $195.45, while Google shares were trading 0.11% lower at $703.71. Apple shares are currently trading 0.49% higher at $502.45.
Other major movers in late trading today are Verizon Communications Inc. (NYSE: VZ), which is currently trading 0.35% higher at $42.69, Research In Motion Limited (NASDAQ: RIMM), which is currently trading 10.29% higher at $17.47, Synovus Financial Corp. (NYSE: SNV), which is currently trading 2.21% lower at $2.65, and Arena Pharmaceuticals Inc. (NASDAQ: ARNA), which is currently trading 9.57% lower at $8.84.