10 of the World's Most Expensive Megaprojects
From the Top Down: Ending Sexual Harassment in the Construction Industry
Spending Up for the Month, Down for the Year
Friday Funny: "Raising the Roof"
Tracking Technology Helps Construction Companies Save Money, Improve Safety
What The ‘Tech’ Just Happened to Meetings?
Weekly Grind: The Future of Construction Technology Across the Country
Friday Funny: It's Just Ergonomics
By Alex veiga, ap business writer
October 19, 2016
Major U.S. stock indexes edged higher in morning trading Wednesday as investors sized up the latest company earnings and new data showing residential construction slowed last month. Energy stocks led among the gainers as oil prices headed higher, while consumer-focused companies lagged the most.
KEEPING SCORE: The Dow Jones industrial average gained 52 points, or 0.3 percent, to 18,213 as of 10:43 a.m. Eastern time. The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,144. The Nasdaq composite index edged up 1 point to 5,245.
ALL ABOUT EARNINGS: Investors are poring over company earnings reports to gauge the market's prospects for growth in coming months and get a better handle on the state of the economy. About 80 of the companies in the S&P 500 are scheduled to report quarterly results this week.
BOND BUMP: Morgan Stanley rose 1.2 percent after the investment bank said earnings soared 62 percent in the third quarter, thanks to big gains in bond trading. Goldman Sachs disclosed similar results Tuesday. Morgan Stanley added 30 cents to $32.62.
OIL BOOST: A pickup in crude oil prices helped lift several energy companies. Halliburton rose $1.50, or 3.2 percent, to $48.57. Chesapeake Energy added 20 cents, or 3.1 percent, to $6.72. Occidental Petroleum added $1.66, or 2.3 percent, to $74.23.
NOT CHIPPER: Intel slid 5.4 percent a day after the world's biggest chipmaker issued downbeat guidance for the current quarter. The stock lost $2.05 to $35.71.
ROUGH QUARTER: Shares in Manhattan Associates tumbled 8.9 percent after the business software company reported weak quarterly sales and cut its revenue outlook. The stock fell $5.26 to $53.75
HOME CONSTRUCTION: The Commerce Department said residential construction slowed 9 percent in September to a seasonally adjusted annual rate of 1.05 million units. That's the second straight monthly pullback and the slowest pace in 18 months. A steep drop in apartment construction overshadowed a surge in single-family home construction.
OVERSEAS MARKETS: Global stocks were mostly steady after China reported its economy expanded at a firm pace in the July-September quarter. In Europe, Germany's DAX was up 0.1 percent, while France's CAC 40 was flat. The FTSE 100 in Britain slipped 0.1 percent. Earlier, Asia, Japan's Nikkei 225 index rose 0.2 percent, while Australia's S&P ASX/200 added 0.5 percent. The Kospi in South Korea was flat. Hong Kong's Hang Seng index lost 0.4 percent.
OIL: U.S. benchmark crude oil was up 85 cents, or 1.7 percent, to $51.14 a barrel in New York after a report of a drawdown in inventories. Brent crude, the international standard, was up 68 cents, or 1.3 percent, to $52.36 a barrel in London.
BONDS AND CURRENCIES: Bond prices fell. The yield on the 10-year Treasury note rose to 1.75 percent from 1.74 percent late Tuesday. In currency markets, the dollar fell to 103.30 yen from 103.89 yen, while the euro weakened to $1.0965 from $1.0977.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Weekly Grind: 3D Jellyfish, Terra Cotta Solar, and Nervous Buildings
That master strategist Sun Tzu knew a thing or two about out-thinking the competition. Turns out his focus on strategy over strength can be applied to gaining an edge in the construction industry. ... Read More
If you're a construction worker, you're most likely working physical labor and it can get hot if you're working under the sun. Here's a guide for h... Read More
As an architectural statement, the campus is a monument both to Apple’s corporate success and centrality to the global tech culture. At 176 acres, ... Read More
August 8, 2016
"Some of the cool things that we're doing on job sites today are with Rovers and the alive platform. Alive is that software platform that glues to... Read More
The National Association of Women in Construction has a new executive vice president. This change marks a “brand new day and brand new way” for the... Read More
Every construction business owner can learn a lot from competitors. But merely copying them won't do. You will just always stay one step behind. So... Read More
We've selected eight women from all walks of life to ask them one common question: what advice would you give women who want to enter the construct... Read More