Markets Down on Russia Worries, Mixed Economic Reports and Earnings News
Investors are taking a pause on Thursday after new sanctions against Russia were announced by the White House late Wednesday. A mixed bag of economic data and corporate earnings are also weighing on Thursday's trading. Housing Starts unexpectedly fell in June to the slowest pace in nine months. Initial jobless claims also declined. The latest manufacturing report from the Philadelphia Federal Reserve showed the index rose to 23.9, the highest reading since March 2011. Earnings news from Blackstone (BX) is moving the stock higher. But, Mattel (MAT) cited weak Barbie dolls sales for its earnings disappointment. SanDisk (SNDK) shares are lower after guiding expectations down for its third quarter outlook. TheStreet's Susannah Lee reports from Wall Street.
