U.S. stocks ended slightly lower on Tuesday after
showing volatile moves earlier in the session as markets are still unknown
about the timing of Spain might apply for a bailout. Moreover, upcoming
earnings are further putting pressure on the broader market as analysts are
estimating not good quarter.
"Spain being rescued would be good for risk
assets and ultimately global growth, but while the benefits are largely priced
in, we're still getting conflicting signals that understandably have investors
apprehensive," said Brian Barish, president of Cambiar Investors LLC in
Denver.
With supportive actions from the U.S. Federal
Reserve and European Central Bank the S&P rose nearly 6 percent in the
third quarter.
"Until we get some kind of clarity, we should
expect a lot of volatility and difficulty holding onto gains," said
Barish, who helps oversee $7 billion in assets.
he Dow Jones Industrial Average(INDEXDJX:.DJI) was
down -32.75 (-0.24%), at 13,482.36. The S&P 500(INDEXSP:.INX ) was up 1.26 (0.09%),
at 1,445.75. NASDAQ
Composite(INDEXNASDAQ:.IXIC) was down 6.51 (0.21%), at 3,120.04.
Mosaic Co(NYSE:MOS) tumbled 4 percent to $55.76 as the S&P's biggest percentage declined after reporting earnings and revenue that missed expectations
PetSmart, Inc.(NASDAQ:PETM) shares added 1.50% to $68.55
after S&P Dow Jones Indices said that the company will replace Sunoco in
the S&P 500 on October 4.
Shares of ArQule, Inc.(NASDAQ:ARQL)slumped 56.31
percent to $2.18 after the biotechnology company and Japan's Daiichi Sankyo
said they will end a late-stage trial of their experimental lung cancer drug.
Nokia Corporation (ADR)(NYSE:NOK) tumbled 5% without
any major news.
SanDisk Corporation(NASDAQ:SNDK) surged over 3% and Research
In Motion Limited (USA)(NASDAQ:RIMM) continued to trade higher after topping
analysts’ estimate earlier this week.
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