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Market Comments & Wrap-Ups
Comtex SmarTrend® Midday Market Recap -- November 17, 2009 - 11/17/2009 1:25:43 PM

Last updated November 17, 2009: 12:30 PM ET --- The major U.S. equity indices are trading lower Tuesday as investors digested mixed earnings and data reports. The Federal Reserve said production rose 0.1%, missing economists estimates for an increase of 0.4%. The Labor Department's Produce Price Index rose 0.3% in October, less than economists forecasts for a rise of 0.5%, up from a decline of 0.6% in September. The dollar rose against other major currencies, which is a negative for stock market sentiment because a higher dollar makes U.S. exports less competitive overseas and tends to depress commodity prices. In corporate news, Home Depot (NYSE:HD) shares fell about 4% after the company issued lower-than-expected guidance. Jacobs Engineering (NYSE:JEC) shares fell 13.6% after the company's Q4 earnings slid 31% and its forecast fell short of expectations. The Dow Jones Industrial Average is trading 0.06% lower at 10,401.07, the S&P500 is down 0.27% at 1,106.25, and the Nasdaq Composite is down 0.17% at 2,194.15.


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