Stocks Headed for a Lower Finish
Stocks are headed for a lower finish in trading today, with all three major indexes holding on to their losses in late trading. Stocks have been pushed lower by some weak corporate earnings reports and concerns over Spain’s economy.
Energy and Basic Materials sectors are leading the losses in the S&P 500 in late trading today. At last check, Energy sector was down 1.97%, while Basic Materials sector was down 1.77%. Conglomerates have also fallen sharply in late trading today. At last check, the sector was trading 1.88% lower. Financials are currently trading 1.39% lower. Transportation is the only sector in green in the S&P 500 in trading currently. At last check, the sector was trading 0.38% higher.
Apple Inc. (NASDAQ: AAPL) shares are down in late trading today even as the technology giant introduced a smaller version of its tablet computer iPad. Shares fell as the company said that 16 GB version of the new iPad mini will be priced at $329, which is higher than expected. At last check, Apple shares were trading 2.28% lower at $619.60.
Other major gainers and losers in trading currently are Monster Beverage Company (NASDAQ: MNST), which is currently trading 10.50% lower at $40.93, ARM Holdings Plc (ADR) (NASDAQ: ARMH), which is currently trading 11.27% higher at $31.29, Xerox Corporation (NYSE: XRX), which is currently trading 5.12% lower at $6.67, United Parcel Service Inc. (NYSE: UPS), which is currently trading 3.19% higher at $73.84, DuPont (NYSE: DD), which is currently trading 9.24% lower at $45.16, and Yahoo Inc. (NASDAQ: YHOO), which is currently trading 6.15% higher at $16.74.