Wed, July 28, 2010
NEW YORK, July 27 (Xinhua) -- The U.S. stocks traded mixed on Tuesday as earnings enthusiasm took a back seat to disappointment after data showed consumers were less confident about the economy.
Major indexes gained earlier after DuPont reported second- quarter net income of 1.16 billion dollars, or 1.26 dollars per share, topping analyst expectations for earnings of 93 cents per share.
Meanwhile, the company said its net sales rose 26 percent to 8. 6 billion dollars, and also raised its earnings outlook for the year.
Stocks fell later in the day after the Conference Board reported its confidence index fell to 50.4, the lowest in five months and lower than analysts' forecast of 51.
Figures also showed income expectations at their lowest point in more than a year, posing a risk for consumer spending which accounts for about 70 percent of the economy.
BP shares dipped 1.68 percent to 38.00 U.S. dollars on Tuesday after the company announced plans to sell up to 30 billion dollars of assets during the next 18 months.
The Dow Jones industrial average rose 12.26 points, or 0.12 percent, to 10,537.69. The Standard & Poor's 500 index fell 1.17 points, or 0.10 percent, to 1,113.84, while the Nasdaq was down 8. 18 points, or 0.36 percent, to 2,288.25.
Crude prices dropped following the disappointing U.S. consumer confidence report. Light, sweet crude lost 1.48 dollars to settle at 77.50 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude lost 1.37 dollars to settle at 76.13 dollars a barrel on the ICE Futures exchange.
The dollar traded mixed against major currencies on Tuesday after the data. The euro edged up to 1.2992 dollars in late New York trading from 1.2989 dollars late Monday.
