Stocks started higher but were paring gains at midday as investors digested economic data and more earnings reports.
The Institute for Supply Management's purchasing managers' index rose to 56.9 in October, compared with 54.4 in September. This was more than two points higher than the expected reading of 54.3. The new orders, production, and factory employment indexes showed gains in October, as well.
Kevin O'Shaughnessy does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.