Markets Going Nowhere Ahead of Apple's Earnings
Markets have lost early momentum and are headed toward breakeven for the day. Mixed economic data is once again leaving traders without a clear direction and has stocks stuck in neutral. The Dow Jones Industrial Average (INDEX: ^DJI) is flat as of 3:20 p.m. EDT, and the S&P 500 (INDEX: ^GSPC) is up just 0.1%.
The one big winner on the Dow is Procter & Gamble (NYS: PG) , which reported earnings that might underwhelm the casual observer but were still ahead of analysts' estimates. Excluding one-time items, the company earned $1.06 per share in the quarter, which was well ahead of the $0.96 expectation. But revenue fell 5% to $20.7 billion, and that's hardly a good sign for P&G or the global economy. Still, investors have pushed P&G's shares 2.7% higher today.
Airplane maker Boeing (NYS: BA) is in the doldrums this week despite reporting a solid quarter. The stock is down 2.4% after supplier Spirit AeroSystems (NYS: SPR) reported huge third-quarter charges due in part to products it makes for Boeing. I wouldn't read into this move too much, as Boeing raised its full-year forecast just yesterday.
Elsewhere in trading, gold is up 0.73% today, while oil has climbed 0.44%. Oil has been crushed recently over concerns over growth in the global economy.
P&G and Boeing have had their time in the limelight, but after the close it's Apple's (NAS: AAPL) turn to announce earnings. We have just what you need to keep up on Apple's numbers with our in-depth premium report. By picking up a copy of our premium research report on Apple, you'll learn everything you need to know about the iPhone 5 launch and receive ongoing guidance as key news hits. Claim your copy today by clicking here now.
The article Markets Going Nowhere Ahead of Apple's Earnings originally appeared on Fool.com.Fool contributor Travis Hoium has no positions in the stocks mentioned above. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. The Motley Fool owns shares of Apple. Motley Fool newsletter services recommend Apple, The Procter & Gamble Company, and Spirit AeroSystems Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.