Boeing leads Dow lower; other indexes mixed

Published on NewsOK Modified: January 16, 2013 at 3:27 pm •  Published: January 16, 2013
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Goldman Sachs gained $5.50 to $141.09, a 4 percent jump. The investment bank's profits nearly tripled in the fourth quarter of last year. Goldman's bond underwriting business had its best year since the financial crisis, thanks to strong demand for fixed-income investments and companies lining up to borrow at historically cheap rates.

Analysts forecast that companies in the S&P 500 will report a 3.2 percent increase in fourth-quarter earnings. Financial firms and consumer-discretionary companies are expected to post the biggest growth, according to S&P Capital IQ.

The Labor Department said consumer prices were flat last month as gas prices sank. The December reading of the consumer price index capped a year of tame inflation. Consumer prices increased just 1.7 percent in 2012, down from 3 percent in 2011.

The report led traders to push up prices for Treasurys, knocking yields down. The 10-year Treasury note's yield slipped to 1.82 percent. The yield, used to set mortgages and a wide variety of other loans, ended Tuesday at 1.84 percent.

Among other companies making news:

— Wendy's rose 4 percent, or 18 cents, to $5.08. The hamburger chain, known for its Frosty shakes and square burgers, earnings topped Wall Street's estimates, even as a key indicator of sales at North American restaurants dipped slightly.

— Chipotle Mexican Grill dropped 6 percent. The burrito chain warned that its quarterly earnings would fall short of previous forecasts because it underestimated the hit it would take from higher food costs. Chipotle's stock lost $16.38 to $280.94.

— Genworth Financial jumped 9 percent, the largest gain in the S&P 500. The financial services company laid out a plan to reorganize its business, including putting its mortgage unit under a new company. Genworth's stock gained 72 cents to $8.85.