The Dow Falls 2 Points, Nasdaq Loses 16

The Dow lost 2.08 points today to close at 11,100.43, the Nasdaq fell 15.99 to close at 2,054.47 and the S&P 500 dropped 5.20 points to close at 1,263.20. Stocks started in positive territory after better than expected earnings from ExxonMobil (NYSE: XOM) and Boston Scientific (NYSE: BSX). However, investor became anxious in the afternoon, selling off before tomorrow's GDP report.

Volume was moderate with 1.82 billion shares trading on the NYSE and 2.19 billion on the Nasdaq. Decliners topped advancers by a margin of 19:14 on the NYSE and on the Nasdaq 19:11.

In individual stories, Featherlite, Inc. (Nasdaq: FTHR) ended 49% higher after the Company signed a definitive agreement to merge with a subsidiary of Universal Trailer Holdings Corp. of Cincinnati, Ohio. Featherlite shareholders will receive $6.50 in cash for each outstanding share of Featherlite common stock. DURA Automotive Systems (Nasdaq: DRRA) fell 52% after Reporting Q2 adjusted loss of $2.03 vs. consensus for a loss of $0.14. Revenues were $573.3 million vs. $586.76 million consensus.

Tomorrow, investors will look for earnings American Axle (NYSE: AXL), Chevron (NYSE: CVX), Ingersoll-Rand (NYSE: IR), Lear Corp. (NYSE: LEA), Office Depot (NYSE: ODP) and Waste Management (NYSE: WMI). Traders will also look for economic data from GDP Annualized (8:30AM EST) and University of Michigan July Consumer Sentiment (9:50AM EST).

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