U.S. stocks slip as SP 500 falls, Dow gains Appl
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U.S. stocks slip as S&P 500 falls, Dow gains
Apple shares breach $700 for first time
NEW YORK (MarketWatch) — Most U.S. stocks slipped for a second day with the Dow industrials posting a fractional gain Tuesday as a gauge of home-builder sentiment showed improvement in September and shipper FedEx Corp. reduced its profit forecast.
On Tuesday, the S&P 500 index (SNC:SPX) shed 1.87 points, or 0.1%, to close at 1,459.32, with energy the hardest hit and consumer staples the best performer of its 10 major sectors.
Similarly, the Nasdaq Composite (NASDAQ:COMP) declined 0.87 point to close at 3,177.80.
The Dow Jones Industrial Average (DJI
JIA) , however, gained 11.54 points, or 0.1%, to close at 13,564.64, with Kraft Foods Inc. (NASDAQ:KFT) the best performer and Alcoa Inc. (NYSE:AA) the worst.
“The rally is a bit overheated at this point, there’s a growing disconnect in terms of what the market is doing and what the underlying economy is doing. Most recently, FedEx is reiterating that point for us, cutting its global outlook for the economy,” said Dave Abate, senior wealth adviser at Strategic Wealth Partners in Seven Hills, Ohio.
http://www.marketwatch.com/story/us-stocks-ex...2012-09-18
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