Wall Street was trading lower today as a drop in energy companies' stocks overpowered expectations the U.S. Federal Reserve may delay an interest-rate hike this year following weak wage data.
The S&P 500 (INDEXSP:.INX) fell 0.2 percent to 2,104.14 at 3:39 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) dropped 0.3 percent to 17,688.30, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) was flat at 5,129.29.
U.S. labor costs in the second quarter recorded their smallest increase in 33 years, with the Employment Cost Index edging up a less-than-expected 0.2 percent.
Earlier in the week, positive comments by the Fed about the economy had been considered by many investors as a signal that a rate rise could come as early as September.
MOVERS:
Exxon Mobil (NYSE:XOM) fell 4.6 percent to $79.88 after the world’s largest publicly traded oil company delivered quarterly earnings that fell short of analysts' expectations today, hurt by lower oil prices.
Chevron (NYSE:CVX) slumped 5.2 percent to $88.17, after the oil giant reported a sharp decline in second-quarter profit and sales, hurt by lower crude prices and one-time charges.
LinkedIn (NYSE:LNKD) fell 11 percent to $203.10 even as the operator of the biggest social networking site for professionals lifted its full-year revenue forecast while reporting stronger-than-expected second-quarter results.
Electronic Arts (NASDAQ:EA) declined 1.1 percent to $71.50. The maker of the Battlefield Hardline video game reported first-quarter sales and profit that beat analysts’ estimates, but the company’s forecast fell short.
FireEye (NASDAQ:FEYE) fell 7 percent to $44.39 after the cybersecurity company reported its slowest quarterly revenue growth since going public in 2013, and said its chief financial officer will step down.
Royal Caribbean Cruises (NYSE:RCL) jumped 8.2 percent to $89.71, after the company reported stronger-than-expected second-quarter profit and raised its outlook for the full year.
Coca-Cola Enterprises (NYSE:CCE) jumped 12.3 percent to $51.04 following news it’s in merger talks with other Coke bottlers.
Expedia (NASDAQ:EXPE) rose 11.8 percent to $120.35 after posting better-than-expected profit in its second quarter, as brands like its namesake and Hotels.com continued to drive bookings growth.
Amgen (NASDAQ:AMGN) rose 2.9 percent to $176.53. The biotechnology company raised its 2015 guidance after reporting that its second-quarter earnings rose 6.9 percent on better-than-expected sales growth and lower operating expenses.
YRC Worldwide (NASDAQ:YRCW) jumped 25.8 percent to $19.24 after the holding company swung to a profit in the June quarter easily beating analysts’ projections on a per-share basis even as revenue missed estimates.
Moneygram International (NASDAQ:MGI) surged 27.7 percent to $10.00. The money transfer and payment services company said finance chief W. Alexander Holmes will assume its top executive role starting Jan. 1, while current chief executive Pamela H. Patsley will move into the executive chairman role. The company also reported better-than-expected results for its second quarter.
COMMODITIES:
Gold for August delivery on Comex ended the day up $6.50 at $1,094.90 an ounce.
West Texas Intermediate crude for September delivery giving up roughly 2.9 percent to settle at $47.12 a barrel.