Fed May Enact Further Stimulus, Markets Close Mixed
The markets closed mixed with the Dow losing 30 points to 13,172 as minutes from the Federal Reserve meeting indicated that another stimulus measure may be delivered in the near future. Nasdaq rose 6 points to 3073.
On the upside
Williams-Sonoma (NYSE: WSM) reported higher second quarter earnings that topped analyst expectations and lifted its full year outlook.
Standard & Poor's revised its outlook on USG (NYSE: USG) from negative to stable.
The acquisition of Sunrise Senior Living (NYSE: SRZ) lifted shares of Brookdale Senior Living (NYSE: BKD).
On the downside
Sanford C. Bernstein downgraded TIM Participacoes (NYSE: TSU) to an Underperform rating. UBS downgraded Ferrellgas Partners (NYSE: FGP) to a Sell rating.
Shares of Yelp (NYSE: YELP) continued falling ahead of the expiration of its lockup period next week.
In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 812.
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