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NEW INFORMATION: S&P 500 sets record even as other indexes slip

By: AP Email
By: AP Email

NEW YORK (AP) -- The Standard & Poor's 500 index is closing at another record high even as other U.S. stock indexes edge lower.

Good news from J.C. Penney helped offset disappointing earnings reports from some U.S. companies.

Merck fell after the drugmaker sharply lowered its profit forecast and reported a plunge in third-quarter earnings.

The S&P 500 rose two points, or 0.1 percent, to 1,762. It also closed at record highs last Tuesday and Friday.

The Dow Jones industrial average slipped a point to 15,568.

The Nasdaq composite fell three points, or 0.1 percent, to 3,940.

Homebuilders fell after the number of Americans who signed contracts to buy previously occupied homes fell in September to the lowest in nine months, reflecting higher mortgage rates and home prices.
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NEW YORK (AP) --Stocks are mixed on Wall Street as investors assess the latest earnings from U.S. companies.

The Standard & Poor's 500 index held on to a record level, but the Dow Jones industrial average edged lower.

Merck fell after the drugmaker sharply lowered its profit forecast and reported a plunge in third-quarter earnings.

The S&P 500 was up half a point at 1,760 in midday trading Monday. The Dow fell 15 points to 15,555. The Nasdaq composite was down 10 points to 3,933.

Homebuilders fell after the number of Americans who signed contracts to buy previously occupied homes fell in September to the lowest level in nine months, reflecting higher mortgage rates and home prices.

The yield on the 10-year Treasury note was unchanged at 2.51 percent.


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