US close: Stocks edge higher after choppy session, oil prices plunge

Tthe Dow Jones Industrial Average closed up 15 points to 17,230.54, while the S&P 500 and the Nasdaq were one and 24 points lower respectively.

Chinese data disappoints

Asian stocks began the week on a mixed note, as data released on Monday showed the Chinese economy expanded at its slowest pace in six years.

China’s National Bureau of Statistics said gross domestic product rose 6.9% in the third quarter compared with 7% in the first two quarters. This was better than the 6.8% forecast by economists but still the worst rate of growth since the first quarter of 2009.

“Today’s data suggest that while the official GDP figures continue to overstate the actual pace of growth in China by a significant margin, underlying conditions are subdued but stable,” said Julian Evans-Pritchard, China economist at Capital Economics.

“Looking ahead, our view continues to be that stronger fiscal spending and more rapid credit growth will limit the downside risks to growth over the coming quarters.”

Meanwhile, Chinese industrial production rose 5.7% in September, missing economists’ expectations of a 6% gain, while retail sales were up 10.9%, a touch ahead of the 10.8% increase expected.

Mixed earnings

Among the companies that reported quarterly earnings, Morgan Stanley slumped 4.80% after the banking giant said its third quarter profit fell 40% year-on-year and missed forecasts.

Oil services giant Halliburton slid 1.19% after saying it swung to a third quarter loss driven by asset write-downs and acquisition-related expenses, as its business in North America continued to suffer from sluggish demand.

GoPro jumped 3.93% even though analysts at Wedbush Securities cut its target price on the stock from $76 to $50.

Abercrombie & Fitch climbed 2.69% after analysts at Wunderlich Securities upgraded their rating on the stock from 'sell' to 'hold' and lifted their target price from $15 to $21, while Urban Outfitters slid 3.75% after the same brokerage downgraded the stock from 'buy' to 'hold'.

There was more positive news for Weight Watchers, which surged 105.01% after popular talk show host Oprah Winfrey announced she bought a stake in the company.

Elsewhere, European stocks edged higher, while oil prices slumped, as West Texas Intermediate shed 3.12% to $45.83 a barrel, while Brent tumbled 3.61% to $48.70 a barrel.

The dollar gained 0.30% and 0.18% against the yen and the euro respectively but fell 0.17% against the pound, while gold futures slid 0.69% to $1,169.20.

S&P 500 - Risers
Peabody Energy Corp. (BTU) $24.00 +5.73%
Keurig Green Mountain Inc (GMCR) $53.10 +4.53%
Micron Technology Inc. (MU) $19.16 +3.57%
Quanta Services Inc. (PWR) $19.31 +3.04%
Priceline Group Inc (PCLN) $1,376.59 +2.99%
Sandisk Corp. (SNDK) $72.00 +2.90%
Netflix Inc. (NFLX) $101.69 +2.73%
Expedia Inc. (EXPE) $130.45 +2.41%
Intuitive Surgical Inc. (ISRG) $478.44 +2.38%
Delta Airlines Inc. (DAL) $50.27 +2.34%

S&P 500 - Fallers
Hasbro Inc (HAS) $72.33 -7.01%
Wynn Resorts Ltd. (WYNN) $68.22 -6.42%
Cimarex Energy Co (XEC) $116.52 -5.24%
Nabors Industries Ltd. (NBR) $10.07 -5.22%
Pioneer Natural Resources Co. (PXD) $133.32 -5.16%
Marathon Oil Corp. (MRO) $18.29 -5.13%
Morgan Stanley (MS) $32.30 -4.86%
Murphy Oil Corp. (MUR) $27.57 -4.77%
Transocean Ltd. (RIG) $15.15 -4.75%
CONSOL Energy Inc. (CNX) $10.50 -4.55%

Dow Jones I.A - Risers
Nike Inc. (NKE) $133.22 +2.11%
Intel Corp. (INTC) $33.60 +1.69%
Visa Inc. (V) $77.00 +1.32%
Walt Disney Co. (DIS) $109.45 +1.12%
Unitedhealth Group Inc. (UNH) $120.74 +0.63%
Apple Inc. (AAPL) $111.73 +0.62%
Boeing Co. (BA) $138.44 +0.61%
Travelers Company Inc. (TRV) $106.38 +0.45%
Procter & Gamble Co. (PG) $75.18 +0.37%
Goldman Sachs Group Inc. (GS) $185.86 +0.37%

Dow Jones I.A - Fallers
Exxon Mobil Corp. (XOM) $81.00 -1.79%
Chevron Corp. (CVX) $90.05 -1.36%
United Technologies Corp. (UTX) $92.05 -1.02%
International Business Machines Corp. (IBM) $149.25 -0.76%
Caterpillar Inc. (CAT) $69.27 -0.59%
3M Co. (MMM) $148.00 -0.47%
E.I. du Pont de Nemours and Co. (DD) $57.08 -0.33%
McDonald's Corp. (MCD) $104.48 -0.32%
JP Morgan Chase & Co. (JPM) $62.23 -0.31%
American Express Co. (AXP) $77.02 -0.25%

Nasdaq 100 - Risers
Keurig Green Mountain Inc (GMCR) $53.10 +4.53%
Micron Technology Inc. (MU) $19.16 +3.57%
Priceline Group Inc (PCLN) $1,376.59 +2.99%
Sandisk Corp. (SNDK) $72.00 +2.90%
Netflix Inc. (NFLX) $101.69 +2.73%
Baidu Inc. (BIDU) $154.68 +2.44%
Expedia Inc. (EXPE) $130.45 +2.41%
Intuitive Surgical Inc. (ISRG) $478.44 +2.38%
Tractor Supply Company (TSCO) $86.97 +2.07%
Regeneron Pharmaceuticals Inc. (REGN) $523.56 +1.74%

Nasdaq 100 - Fallers
Wynn Resorts Ltd. (WYNN) $68.22 -6.42%
Mattel Inc. (MAT) $23.14 -3.14%
Vimpelcom Ltd Ads (VIP) $4.20 -2.33%
Seagate Technology Plc (STX) $38.75 -2.05%
Illumina Inc. (ILMN) $147.48 -1.82%
Avago Technologies Ltd. (AVGO) $118.96 -1.74%
Viacom Inc. Class B (VIAB) $48.92 -1.67%
CA Inc. (CA) $28.48 -1.52%
QUALCOMM Inc. (QCOM) $59.10 -1.35%
Activision Blizzard Inc. (ATVI) $33.75 -1.23%