Publications
Partners
New York - Wall Street stocks were mixed early on Monday as a heavy week of US economic reports and earnings kicked off with data showing a slight rise in consumer spending in June.
About 30 minutes into trade, the Dow Jones Industrial Average was at 17 649.61, down 40.25 points (0.23%).
The broad-based S&P 500 added 0.68 (0.03%) at 2 103.16, while the tech-rich Nasdaq Composite Index gained 11.36 (0.22%) at 5 139.64.
Consumer spending, which accounts for about 70% of US economic activity, rose 0.2% in June after a 0.7% gain in May and a 0.3% increase in April, according to Commerce Department data.
The most anticipated economic release of the week comes Friday with the July jobs report. Earnings reports include Twenty-First Century Fox and Disney.
Tyson Foods slumped 9.7% after slashing its 2015 earnings forecast to $3.10-$3.20 per share from the prior $3.30-$3.40 estimate due to the financial hit in its beef business from elevated cattle costs.
Telecom company Frontier Communications rose 6.1% as second-quarter revenue rose 19.3% to $1.37bn. Frontier said it was on track to complete a deal to buy Verizon's wire line operations in California, Florida and Texas.
Soap and household goods manufacturer Clorox rose 0.9% as it reported that net income increased 11% in the quarter ending June 30. It projected flat-to-one percent growth in sales in fiscal 2016.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.18% from 2.19%, while the 30-year dipped to 2.89% from 2.91%. Bond prices and yields move inversely.
