Stocks Dip After Disappointing Manufacturing Data

manufacturing
NEW YORK (AP) - U.S. stocks are opening lower, pushed down by a disappointing report about the manufacturing industry.

The Commerce Department says orders for long-lasting factory goods, such as computers and industrial machinery, fell in July. That excluded gains from the transportation category, which is volatile and rose largely because of orders at Boeing (BA).

Durable goods are a key measure of economic health because they show whether businesses are willing to bet on future growth and spend money.

The major stock indexes are all down slightly. The Dow Jones industrial average is down 10 to 13,044. The Standard & Poor's 500 is down two to 1,400. The Nasdaq composite index is down nine to 3,045.

Drugmaker Eli Lilly (LLY) jumped after reporting promising signs about a possible treatment for Alzheimer's disease.




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cpo1514

Want a real change ?... FIRE OBAMA !!!!!!!!!!!!!

August 25 2012 at 8:48 AM Report abuse rate up rate down Reply
vondeck

The recession is alive and well. Thanks Obama!!!!

August 24 2012 at 10:24 AM Report abuse +2 rate up rate down Reply