Stocks fell lower in the last hour after the Treasury Dept. reported a lower-than-expected borrowing estimate for the first quarter. This announcement comes ahead of the Federal Reserve's meetings this week, leading to investor concerns. However, stocks edged higher toward the end of the session to end mixed.
The markets also absorbed somewhat positive economic data this morning. 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.