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Daily Market Wrap: August 28, 2012
Tuesday, August 28, 4:55 PM ET

It was a choppy day of trading on Wall Street as stocks traded flat amid mixed economic data.

The Conference Board is reporting an unexpected drop in consumer confidence in July to 60.6, falling short of economists' expectations.

Also on the economic front, home prices rose more than expected in June, up 0.5 percent in the 20 largest cities, according to the S&P/Case Shiller composite index.

Shares of Apple (NASDAQ:AAPL) are trading slightly lower just one day after the company's $1 billion copyright victory over Samsung. The verdict found that the Korean manufacturer had infringed on several of Apple's patents.

Lexmark (NYSE:LXK) announced it would cut nearly 13 percent of its workforce and walk away from the inkjet business and focus rather on its imaging and software businesses. Shares are trading higher on the news today.

Tomorrow, we'll take a look at the numbers for weekly mortgage applications as well as earnings results from Pandora (NYSE:P) and TiVo (NASDAQ:TIVO).

For Marketnewsvideo.com, I'm Sayoko Murase.

Daily Market Wrap: August 28, 2012 picture
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Daily Market Wrap: August 28, 2012 | Market News Video | Copyright © 2008 - 2017, All Rights Reserved

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