After staying in the black for several hours, stocks stumbled late in the trading session and finished mixed. Investors eyed several domestic data reports as well as comments from the Federal Reserve. Several stocks were also in focus today.
The Federal Reserve Bank of Chicago reported that the Midwest Manufacturing Index increased 1.8% in July compared with June. Although some subindexes declined from the previous month, a 6.3% July gain in auto production helped lift the overall index. Separately, the Dallas Fed reported improvement in Texas-area manufacturing output for August, as the bank's business activity index increased to negative 1.6 from July's reading of negative 13.2. The expectations and company-outlook subindexes moved further into positive territory, but the overall negative reading indicates that activity is still in contraction mode as uncertainties in Washington affect sentiment.
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Kevin O'Shaughnessy does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.