US midday: White House welcomes Republican proposal

RELATED QUOTES

SymbolPriceChange
FB62.28-0.76
EW79.99+0.250
VIAB84.34+0.33
MU26.32+0.140
LBTYA40.11-0.12

LONDON (ShareCast) - - White House welcomes House proposal on debt ceiling
- Headline existing home sales miss expectations
- Mixed results from corporate heavyweights

Dow Jones Industrials: 0.25%
Nasdaq Comp.: -0.04%
S&P 500: 0.18%

The main Wall Street indices were still trading mixed by the midday mark, following the release of similarly contradictory quarterly results from a batch of corporate heavyweights. The latest economic data out today was similarly difficult to interpret.

Thus, Johnson&Johnson and Verizon Communications are falling following the release of their latest financials.

Caterpillar (NYSE: CAT - news) is off after the world's largest maker of construction and mining equipment said it will take a $580m write-down in relation to accounting "misconduct" at Zhengzhou Siwei Mechanical & Electrical Manufacturing Co., a Chinese subsidiary acquired last year.

Travelers and chemical maker Dupont, on the other hand, are moving up. The latter has guided higher than expected on its 2013 revenues.

Results out from Regions Financial (NYSE: RF - news) handily beat expectations.

Acting as a backdrop, the White House welcomed House Republicans' proposal for a temporary debt limit, with press secretary Jay Carney saying that President Obama will not "stand in the way" if Congress approves such as proposal.

Shares of Morgan Stanley (Xetra: 885836 - news) were downgraded by analysts at Susquehanna.

UBS (Berlin: UBRA.BE - news) has cut its target price on Apple (NasdaqGS: AAPL - news) to 650 dollars from 700 dollars before.

Data disappoints, or not...

The Federal Reserve's national activity index for the month of December has moderated to 0.02 from 02.7 in the previous month.

Existing home sales fell by 1% in December to an annualised rate of 4.94m (Consensus: 5.1m). Even so, the amount of homes available for sale did drop to the equivalent of 4.4 months worth of sales, versus 4.8 months in November (Xetra: A0Z24E - news) .

Crude futures edge up
West Texas crude futures have begun the day rising by 0.68% to the $96.21 per barrel mark on NYMEX.

10 year US Treasury yields are now down by 1 basis point to the 1.83%.



S&P 500 - Risers
Chesapeake Energy Corp. (CHK) $18.78 +5.39%
Western Digital Corp. (WDC) $47.13 +5.18%
R.R. Donnelley & Sons Co. (RRD) $9.98 +4.94%
Freeport-McMoRan Copper & Gold Inc. (FCX) $35.28 +4.89%
State Street Corp. (STT) $55.80 +4.57%
Vulcan Materials Co. (VMC) $59.18 +4.39%
Regions Financial Corp. (RF) $7.75 +4.31%
First Solar Inc (Xetra: A0LEKM - news) . (FSLR) $31.34 +4.19%
Seagate Technology Plc (STX (KSE: 011810.KS - news) ) $36.84 +4.12%
Southwestern Energy Co (NYSE: SWN - news) . (SWN) $34.86 +3.47%

S&P 500 - Fallers
Autodesk Inc (NasdaqGS: ADSK - news) . (ADSK) $36.39 -2.96%
Edwards Lifesciences Corp (NYSE: EW - news) . (EW) $91.99 -2.72%
Sears Holdings Corp. (SHLD) $45.46 -2.57%
Red Hat Inc (NYSE: RHT - news) . (RHT) $52.85 -2.40%
Coach Inc (NYSE: COH - news) . (COH) $60.32 -2.39%
Constellation Brands Inc (NYSE: STZ - news) . Class A (STZ) $37.82 -2.37%
Salesforce.Com Inc. (CRM) $166.68 -1.96%
Cognizant Technology Solutions Corp. (CTSH) $77.79 -1.94%
Xerox Corp (NYSE: XRX - news) . (XRX) $7.50 -1.83%
Fastenal Co. (FAST) $47.74 -1.77%

Dow Jones I.A - Risers
Travelers Company Inc. (TRV) $78.28 +2.58%
Unitedhealth Group Inc. (UNH) $55.84 +2.35%
Alcoa Inc (NYSE: AA - news) . (AA) $9.19 +2.17%
E.I. du Pont de Nemours and Co. (DD) $47.80 +1.72%
Bank of America Corp. (BAC) $11.32 +1.62%
McDonald's Corp. (MCD) $93.06 +0.87%
AT&T Inc. (T) $33.64 +0.60%
Walt Disney Co. (DIS) $52.60 +0.49%
3M Co. (MMM) $99.20 +0.47%
Home Depot Inc. (HD) $65.76 +0.44%

Dow Jones I.A - Fallers
Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $20.74 -1.31%
Coca-Cola Co. (KO) $37.24 -1.22%
Boeing Co (NYSE: BA - news) . (BA) $74.13 -1.21%
Johnson & Johnson (NYSE: JNJ - news) (JNJ) $72.67 -0.77%
American Express Co. (AXP) $59.33 -0.76%
Intel Corp. (INTC) $21.15 -0.47%
JP Morgan Chase (Other OTC: JFTTL - news) & Co. (JPM) $46.28 -0.38%
Microsoft Corp. (MSFT) $27.16 -0.33%
Caterpillar Inc. (CAT (Taiwan OTC: 4990.TWO - news) ) $97.33 -0.30%
General Electric Co. (GE) $22.01 -0.14%

Nasdaq 100 - Risers
Western Digital Corp. (WDC) $47.13 +5.18%
Randgold Resources Ltd. Ads (GOLD) $96.78 +4.89%
Seagate Technology Plc (STX) $36.84 +4.12%
Facebook Inc (NasdaqGS: FB - news) . (FB) $30.58 +3.10%
Dollar Tree Stores Inc. (DLTR) $39.49 +2.52%
Dell Inc (NasdaqGS: DELL - news) . (DELL) $13.16 +2.49%
Regeneron Pharmaceuticals Inc (NasdaqGS: REGN - news) . (REGN) $171.25 +1.95%
Bed Bath & Beyond Inc (NasdaqGS: BBBY - news) . (BBBY) $56.41 +1.82%
Whole Foods Market Inc (NasdaqGS: WFM - news) . (WFM) $91.98 +1.59%
Viacom Inc (NasdaqGS: VIAB - news) . Class B (VIAB) $58.75 +1.50%

Nasdaq 100 - Fallers
Autodesk Inc. (ADSK) $36.39 -2.96%
Mondelez International Inc (NasdaqGS: MDLZ - news) . (MDLZ) $27.35 -2.58%
Sears Holdings Corp. (SHLD) $45.46 -2.57%
Liberty Global Inc (NasdaqGS: LBTYA - news) . Series A (LBTYA) $67.95 -2.13%
Cognizant Technology Solutions Corp. (CTSH) $77.79 -1.94%
Fastenal Co. (FAST) $47.74 -1.77%
Monster Beverage Corp (MNST) $47.02 -1.67%
eBay Inc. (EBAY (NasdaqGS: EBAY - news) ) $53.36 -1.57%
Micron Technology Inc (NasdaqGS: MU - news) . (MU) $7.78 -1.40%
Baidu Inc (NasdaqGS: BIDU - news) . (BIDU) $108.31 -1.39%