Investors were searching for direction Friday with the S&P 500, Dow and Nasdaq mixed at midday. Some stocks on the move included Nordstrom (JWN). Shares of the retailer were stronger on earnings and revenue that beat Wall Street estimates. Sales of women’s apparel and cosmetics were especially strong. Shares of chicken restaurant chain El Pollo Loco (LOCO) were sharply lower on weaker than expected quarterly results. The stock fell below its ipo price for the first time since it went public in July 2014. Wholesale inflation came in stronger than expected in July. Industrial production posted a bigger increase than estimates as automakers increased production. Analysts said these reports give the Fed more ammunition to justify an increase in interest rates.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.