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Durable goods data drags down Dow
NEW YORK, U.S. investors took a cue from the Commerce Department Wednesday, as markets fell in the wake of disappointing durable goods data.
Economists had predicted a gain of 1.1 percent for the manufacturing sector that has been one of the bright spots of the economic recovery. Instead, durable goods orders fell 1 percent in June, the department said.
In early-afternoon trading, the Dow Jones industrial lost 16.57 points, 0.16 percent, to 10,521.12. The Standard & Poor's 500 index lost 3.93 or 0.35 percent, to 1,109.91. The Nasdaq composite index dropped 16.36 points, 0.71 percent, to 2,271.89.
The benchmark 10-year Treasury note rose 9/32 to yield 3.018 percent.
The euro fell to $1.2991 from Tuesday's $1.3003. Against the yen, the dollar dropped to 87.58 yen from Tuesday's 87.96 yen.
In Japan, the Nikkei 225 index added 2.7 percent, 256.42, to 9,753.27.
In Britain, the FTSE 100 index lost 0.86 percent, 45.99, to 5,319.68.
NEW YORK, U.S. investors took a cue from the Commerce Department Wednesday, as markets fell in the wake of disappointing durable goods data.
Economists had predicted a gain of 1.1 percent for the manufacturing sector that has been one of the bright spots of the economic recovery. Instead, durable goods orders fell 1 percent in June, the department said.
In early-afternoon trading, the Dow Jones industrial lost 16.57 points, 0.16 percent, to 10,521.12. The Standard & Poor's 500 index lost 3.93 or 0.35 percent, to 1,109.91. The Nasdaq composite index dropped 16.36 points, 0.71 percent, to 2,271.89.
The benchmark 10-year Treasury note rose 9/32 to yield 3.018 percent.
The euro fell to $1.2991 from Tuesday's $1.3003. Against the yen, the dollar dropped to 87.58 yen from Tuesday's 87.96 yen.
In Japan, the Nikkei 225 index added 2.7 percent, 256.42, to 9,753.27.
In Britain, the FTSE 100 index lost 0.86 percent, 45.99, to 5,319.68.
