Stocks were mixed as investors were hesitant in light of the debt ceiling crisis. President Obama still unwilling to cut federal spending. Instead, pressuring Congress to just raise the amount of debt the nation is allowed to hold. At 2 pm, the Dow was up fractionally, the S&P 500 was down a quarter of a percent and the Nasdaq was lower by half a percent.
News that Apple (NASDAQ:AAPL) was cutting iPhone 5 production took a bite out of its stock price today. Shares were down almost 3-1/2% on lower than expected sales of its newest iPhone.
While Apple weighed on the S&P 500, shares of Hewlett Packard (NYSE:HPQ) and Cisco (NASDAQ:CSCO) were leading the Dow higher, reportedly on positive growth prospects.
After the close today, Fed Chairman Ben Bernanke will make a speech at the University of Michigan, regarding monetary policy. Some investors may be looking at that. And tomorrow, traders will be looking at the Producer Price Index, retail sales and the Empire State manufacturing survey.
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