The major averages are mixed near noon with the S&P osciallating near the flatline as investors wait to see if lawmakers can break the stalemate in Washington over a new coronavirus relief package.
ECONOMIC EVENTS: In the U.S., factory orders beat estimates with a 6.2% climb in June.
TOP NEWS: Shares of Ford (F) are 1% higher near noon after the company announced that Jim Hackett plans to retire from the company. Jim Farley has been named the company's new president and CEO and will join the board, effective Oct. 1, Ford reported this morning.
As analysts opine on the odds of Microsoft (MSFT) buying TikTok's operations in the U.S., which President Donald Trump has said he'd be fine with, Axios' Dan Primack reported that sources tell him that Apple (AAPL) has also expressed interest in buying the social video sharing platform. However, Primack has since tweeted that an Apple spokesperson tells Axios that there are no discussions about buying TikTok and the company isn't interested.
MAJOR MOVERS: Among the noteworthy gainers was Blink Charging (BLNK), which rose 13% after it signed an agreement with Cushman & Wakefield (CWK) for the marketing and potential deployment of Blink charging stations and related services to C&W clients throughout the United States. Also higher were Harmonic (HLIT) and SolarEdge (SEDG), which gained a respective 27% and 20% after reporting quarterly results.
Among the notable losers was DBV Technologies (DBVT), which slid 41% after received a non-approval letter from the FDA for its peanut allergy patch. Also lower were Virgin Galactic (SPCE) and Ralph Lauren (RL), which fell 12% and 7%, respectively, after reporting quarterly results.
INDEXES: Near midday, the Dow was up 98.94, or 0.37%, to 26,763.34, the Nasdaq was down 14.02, or 0.13%, to 10,888.78, and the S&P 500 was up 2.56, or 0.08%, to 3,297.17.
Ralph Lauren
-4.72 (-6.78%)
Virgin Galactic
-3.015 (-12.55%)
DBV Technologies
-1.68 (-41.08%)
SolarEdge
+34.88 (+20.10%)
Harmonic
+1.43 (+25.44%)
Cushman & Wakefield
+ (+0.00%)
Blink Charging
+1.33 (+12.63%)
Ford
+0.06 (+0.90%)
Microsoft
-5.34 (-2.47%)
Apple
+2.59 (+0.59%)