The Nasdaq has recently climbed off its worst levels of the day but remains down 19.08 points or 0.4% at 4,579.11. On the other hand, the Dow is up 41.13 points or 0.2% at 17,108.69 and the S&P 500 is up 0.67 points or less than a tenth of a % at 2,002.95.
The initial strength on
Ukrainian President Petro Poroshenko released a statement indicating that a phone conversation with Russian President
Poroshenko toned down an earlier statement announcing a "permanent ceasefire" agreement following denials from the Kremlin.
The Kremlin noted that Putin and Poroshenko expressed largely similar views on possible ways to end the crisis but argued that Putin could not agree to a ceasefire because
Early buying interest was also generated by upbeat economic news out of
Nonetheless, traders seemed reluctant to continue buying stocks ahead of the
A notable decline by shares of Apple (AAPL) has weighed on the markets since then, with the tech giant tumbling by 3.5%.
The steep drop comes after Apple ended the previous session at a record closing high and partly reflects concerns that the iPhone 6 will fail to live up to expectations.
In US economic news, the
The report said factory orders soared by 10.5% in July after climbing by an upwardly revised 1.5% in June.
The surge in factory orders reflected the biggest monthly increase on record but still fell short of the 10.9% jump expected by economists.
After seeing considerable strength in the previous session, airline stocks have shown a notable move back to the downside. The NYSE Arca Airline Index has fallen by 1.3% after ending the previous session at a twelve-year closing high.
Housing stocks have also come under pressure on the day, dragging the Philadelphia Housing Sector Index down by 1.3%.
On the other hand, considerable strength remains visible among steel stocks, with the NYSE Arca Steel Index up by 1.4%. The strength in the sector comes on the heels of news that
Most of the other major sectors are showing only modest moves, contributing to the relatively lackluster performance by the broader markets.
In overseas trading, stock markets across the
The major European markets also showed notable moves to the upside on the day. While the
In the bond market, treasuries have regained some ground from early in the session but continue to see modest weakness. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 1.1 basis points at 2.43%.
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