Sideways day for US stocks as Disney tumbles
Wall Street stocks finished a choppy session essentially flat on Tuesday, a sideways performance that could persist until investors digest significant economic releases later in the month. "The market might just be due for some pause, consolidation," said LBBW's Karl Haeling. Analysts pointed to light trading volume in a comparatively quiet period of news after last week saw major earnings reports, economic releases and a Federal Reserve decision. Upcoming potential catalysts include US consumer price data and Walmart results, both of which are scheduled for next week. The Dow Jones edged up 0.1 percent to 38,884. The S&P 500 gained 0.2 percent to 5,187, while the Nasdaq dipped 0.1 percent to 16,332. Among individual companies, Disney dropped 9.5 percent as it reported a small quarterly loss and pointed to a moderation in travel spending expected to weigh on results at its parks division. Apple advanced 0.4 percent after unveiling new versions of its iPad tablets. Spirit AeroSystems, a major contractor to Boeing and Airbus, fell 0.3 percent as it reported a US$616.7 million quarterly loss, reflecting a drag from lower output amid Boeing's quality control problems. The company has also so far not reached a pricing agreement with Airbus, further weighing on financial performance. (AFP)