U.S. stocks switched been modest gains and losses in a choppy day of trading as investors digested conflicted U.S. economic data.
The S&P 500 (INDEXSP:.INX) added 0.3 percent to 2,100.007 at 3:42 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) was flat at 17,548.30, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.7 percent to 5,142.62.
The main indexes advanced in early trade after a softer-than-expected reading on private payroll growth stoked ideas the Federal Reserve might not be so hasty about hiking rates. But a reading of the service sector indicated signs of economic vigor, surging to a 10-year high in July.
MOVERS:
First Solar (NASDAQ:FSLR) jumped 17.4 percent to $52.24 after the biggest U.S. maker of solar panels reported sales that exceeded projections.
Activision Blizzard (NASDAQ:ATVI) jumped 12 percent to $28.76 after the video game maker's results beat expectations.
Walt Disney (NYSE:DIS) tumbled 9.1 percent to $110.60 after the world's largest entertainment company cut its profit outlook and posted fiscal third-quarter revenue below Wall Street projections.
Priceline Group (NASDAQ:PCLN) rose 5.6 percent to $1,355.56 after the online travel broker posted better-than-anticipated quarterly profit.
Dish Network (NASDAQ:DISH) advanced 4.1 percent to $68.09. The satellite TV operator earned an adjusted $0.70 per share for the second quarter, $0.25 above estimates.
Wendy's (NASDAQ:WEN) lost 1.4 percent to $10.15, reversing an earlier gain. The restaurant chain earned $0.11 per share for its latest quarter, $0.02 above estimates, with revenue also beating analyst projections.
Lumber Liquidators Holdings (NYSE:LL) dived 28 percent to $13.28 after the flooring retailer posted a surprise loss.
Time Warner (NYSE:TWX) fell 9.4 percent to $79.24 even as its profit easily topped Wall Street expectations in the second quarter.
Apple (NASDAQ:AAPL) rose 0.9 percent to $115.59 even as Bank of America/Merrill Lynch cut its rating on Apple to "neutral" from "buy," saying iPhone growth is decelerating and that Apple Watch, Apple Pay, and Apple Music will take time to ramp up.
Etsy (NASDAQ:ETSY) sank 25 percent to $14.44. Etsy lost $0.07 per share, $0.01 less than forecasts, and revenue was slightly above expectations.
COMMODITIES:
December gold lost 0.5 percent to settle at $1,085.60 an ounce.
On the New York Mercantile Exchange, West Texas Intermediate crude-oil futures fell 1.4 percent to settle at $45.15 a barrel—the lowest close since March 18.