From Fnno.com, you're watching the Financial News Network. This is your Mid-day Market Update. Stocks fighting between gains and losses in the first half of the day. This caused by higher consumer confidence competing with negative reports from Europe.
U.S. consumer confidence in July rose for the first time in six months, with the consumer confidence index up to 65.9 from 62.7. The Conference Board attributed the rise to a positive outlook on jobs growth in the next six months. Analysts were expecting a drop of 61.4
But the pessimism from Europe is what has caused the stale mate in today's trading. Investors are now worried about the European Central Bank's meeting this week, which has been postponed till Thursday.
As for specific stocks, Accretive Health and Cirrus Logic are leading the gainers today, with Accretive surging on news it will pay $2.5 million to finally settle a court case. Losers include companies like Coach and Humana which reported lower second quarter profit.
Currently, the Dow is down 25 points to 13,048. The Nasdaq is down a fraction of a point and the S&P is down three points. For more market updates and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.