|
|
Article: Stocks edge lower on mixed signals on the economy
- Article from:
- AP Online
- Article date:
- July 27, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Mixed reports on the economy and earnings left the stock market drifting lower Monday, easing off of a two-week rally that lifted major indexes 11 percent.
A government report showing sales of new homes in the U.S. rose by the largest amount in nearly nine years last month, but also contained troubling news that home prices fell sharply from a year earlier. Stocks got an early lift from the report but quickly gave up the gains.
The latest batch of corporate earnings offered a mix of news.
RadioShack Corp. reported higher second-quarter earnings that beat forecasts, but mainly from cost-cutting _ a theme that has become familiar this earnings season. Health insurer Aetna Inc. and manufacturer ...