U.S. stocks traded mixed around midday Monday as investors digested earnings reports as well as economic data.
Around noon, the Dow Jones Industrial Average rose 23.84 points, or 0.10 percent, to 23,352.47. The S&P 500 inched down 1.19 points, or 0.05 percent, to 2,574.02. The Nasdaq Composite Index decreased 15.83 points, or 0.24 percent, to 6,613.22.
Shares of VF Corp. jumped nearly 6 percent around midday on Monday, after the clothing company reported better-than-expected third-quarter earnings. The company, whose brands include Timberland, the North Face and Dickies, also raised its outlook.
This earnings season has gotten off to a good start. According to consulting company Earnings Scout, about 80 percent of companies that have reported beat on the bottom line as of Friday, while over 70 percent have topped sales estimates.
On the economic front, led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) moved up to 0.17 in September from minus 0.37 in August, the Federal Reserve Bank of Chicago said Monday.
Meanwhile, investors kept a close eye on the country's tax reform plan. Some analysts believed that the Trump administration will be able to push on with tax cuts, after the Senate passed a budget blueprint for the next fiscal year last week.
On Friday, U.S. stocks ended higher amid rising expectation for a tax reform in the country, with all three major indices setting new record closing highs.
Around noon, the Dow Jones Industrial Average rose 23.84 points, or 0.10 percent, to 23,352.47. The S&P 500 inched down 1.19 points, or 0.05 percent, to 2,574.02. The Nasdaq Composite Index decreased 15.83 points, or 0.24 percent, to 6,613.22.
Shares of VF Corp. jumped nearly 6 percent around midday on Monday, after the clothing company reported better-than-expected third-quarter earnings. The company, whose brands include Timberland, the North Face and Dickies, also raised its outlook.
This earnings season has gotten off to a good start. According to consulting company Earnings Scout, about 80 percent of companies that have reported beat on the bottom line as of Friday, while over 70 percent have topped sales estimates.
On the economic front, led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) moved up to 0.17 in September from minus 0.37 in August, the Federal Reserve Bank of Chicago said Monday.
Meanwhile, investors kept a close eye on the country's tax reform plan. Some analysts believed that the Trump administration will be able to push on with tax cuts, after the Senate passed a budget blueprint for the next fiscal year last week.
On Friday, U.S. stocks ended higher amid rising expectation for a tax reform in the country, with all three major indices setting new record closing highs.
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