"The U.S. STOCK markets are solidly lower in late-morning action after a report suggesting Chinese manufacturing activity contracted for the first time in six months. Meanwhile, Treasuries are higher amid the concerns about a slowing Chinese economy, while U.S. reports showed jobless claims came in south of expectations, existing home sales missed forecasts, leading indicators rose at a smaller pace than anticipated, and manufacturing reports suggested expansion. In U.S. equity news, Dow member McDonald's Corp and Netflix Inc topped the Street's profit projections. Elsewhere, eBay Inc exceeded analysts' earnings forecasts, while rejecting a proposal from Carl Icahn to spin off its PayPal business. Moreover, International Business Machines Corp agreed to sell some of its server business to Lenovo Group Ltd for nearly $2.3 billion. Gold is trading higher, while the U.S. dollar is lower and crude oil prices are mixed. Overseas, Asian stocks finished mostly lower following the Chinese manufacturing report, which is overshadowing upbeat eurozone business activity data and European equities are broadly lower".
Source: Schwab
Source: Schwab
