Stocks Are In The Red

Business Insider

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REUTERS/Brendan McDermid

Markets are lower after Monday saw stocks bounce back after their worst week in two years.

The Dow is down 46 points, the S&P 500 is down 6 points, and the Nasdaq is down 6 points.

On the economic calendar, Markit's services PMI report showed input cost growth in the services sector fell to a 15-month low in July.

ISM's July non-manufacturing PMI report came in at 58.7, topping expectations for a 56.5 reading. The report's new orders sub-index came in at 64.9, the best reading for that component since August 2005. 

Data on factory orders from the Census Bureau showed factory orders rose 1.1% in June, topping estimates for a 0.6% rise. 

Target shares are down more than 4% after the company slashed its earnings outlook and said costs related to its data breach would come in more than expected. 

Shares of Coach are up better than 4% after the luxury accessories maker reported earnings and sales that beat expectations. 

Gannett announced plans to split into two companies, separating its publishing business form its broadcasting and digital operations. The company also said it would acquire full ownership of Cars.com for $1.8 billion. In pre-market trade, shares of Gannett were up more than 6%, but pared those gains to a 1.5% advance after the market open.



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