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Daily Wrap: 7/27/2011
Wednesday, July 27, 4:33 PM ET

The possibility of a U.S. debt default has investors concerned, sending the markets lower on Wall Street today.

An unexpected drop in durable goods orders also a proving to be a disappointment today, with the Commerce Department reporting a 2.1 drop in June, far worse than the 0.3 percent gain economists were expecting.

Also on the economic front, the Mortgage Bankers Association reported a decline in weekly mortgage applications last week.

In earnings news, Panera Bread (NASDAQ:PNRA) announced second quarter earnings that beat estimates, with a 19 percent increase in revenue.

Dow Chemical (NYSE:DOW) reported a better than expected profit in the most recent quarter. Shares of the chemical maker are trading up today.

In the biggest IPO deal of the week, Dunkin Brands (NASDAQ:DNKN) made it's trading debut on the Nasdaq. The company sold $422.75 million worth of shares and plans to use that money to pay off debt.

Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings results from several pharmaceutical companies, including Sanofi Aventis (NYSE:SNY).

For MarketNewsVideo.com, I'm Sayoko Murase.

Daily Wrap: 7/27/2011 picture
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Daily Wrap: 7/27/2011 | Market News Video | Copyright © 2008 - 2016, All Rights Reserved

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