Stocks Lack Direction; Merck Falls, Visa, MasterCard Rise
Stocks closed mixed for the third consecutive day, with economic data and the commencement of the two-day FOMC meeting failing to tempt bulls or bears from the sideline.
The Dow loss -39.81, the Nasdaq Composite rose +1.70 , and the S&P 500 fell -5.43.
Visa
(
V |
Quote |
Chart |
News |
PowerRating) rose more than 6% after reporting Q2 earnings of $0.52, beating the consensus estimate by $0.07.
Shares of MasterCard
(
MA |
Quote |
Chart |
News |
PowerRating) surged more than 12% after the company delivered much better than expected earnings.
Valero Energy
(
VLO |
Quote |
Chart |
News |
PowerRating) fell nearly 3% despite beating estimates by $0.19. meanwhile, Shell and BP reported sharply higher first quarter profit.
Archer Daniels Midland
(
ADM |
Quote |
Chart |
News |
PowerRating) beat estimates but its shares declined nearly 4%.
The Food and Drug Administration (FDA) rejected the Merck‘s
(
MRK |
Quote |
Chart |
News |
PowerRating) application for a new drug. MRK lost more than 10%.
| Market Snapshot | ||||||||||||
|
| Economic News |
|
|