Stocks End Mixed on Tuesday After ISM Report and Apple (AAPL) Speculation

Despite speculation over Apple's (AAPL) launch of its newest iPhone, US stocks were down by the end of the day on Tuesday after construction and manufacturing spending fell. This further confirms global economic slowdown and growing worries of the euro zone crisis. Auto companies shared positive reports with GM (GM) August sales up 10%, Toyota (TM) sales jumping 46% and Chrysler's sales advancing 14%. Among merger news, Valeant Pharmaceuticals (VRX) made a $2.6 billion deal to acquire Medicis (MRX). Campbell Soup (CPB) also saw their earnings rise and shortly after the company revised their yearly outlook.
Moody's negative report pushed European indices down. Oil also finished lower after the US ISM factory index contracted while gold continues to reach its highest level in more than five months on expectations of global bank action.

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Published on Sep 4, 2012
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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