Wall St: Thursday mid-session

By THIS IS MONEY
Updated:

 

SHARES fell in early trading as unexpected falls in orders for durable goods and sales of new home dampened investor enthusiasm.

A report showed sales of new homes fell unexpectedly in a colder-than-usual January to their lowest level since last May as the housing market gave fresh signs of slowing.

Separate data showed new orders for expensive US factory goods dropped unexpectedly in January as demand for cars and aircraft fell sharply.

The Dow Jones industrial average eased 28 points, or 0.27% to 10,573 and the Nasdaq Composite Index rose 5 points, or 0.26% to 2,028.

Starbucks, the world's largest coffee shop chain, fell $1.57, or almost 4.03% to $37.38. It said sales at company-operated stores grew, but warned that rapid growth could not last.

Retail broker Charles Schwab and market maker Van der Moolen led financials lower. Schwab fell 16 cents to $12.04 and Van der Moolen shares fell 27 cents to $8.80. The Securities and Exchange Commission is considering a rule that some believe will erode trading volume at the New York Stock Exchange where Van der Moolen acts as a specialist for some listed stocks.

Walt Disney shares rose 24 cents to $26.54 after the largest US pension fund called for embattled chief executive Michael Eisner to quit. The California Public Employees' Retirement System pointed to losses of 23% in Disney's stock price over the past five years and blamed Eisner.

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