Markets have lost early momentum and are headed toward breakeven for the day. Mixed economic data is once again leaving traders without a clear direction and has stocks stuck in neutral. The Dow Jones Industrial Average (INDEX: ^DJI ) is flat as of 3:20 p.m. EDT, and the S&P 500 (INDEX: ^GSPC ) is up just 0.1%.
The one big winner on the Dow is Procter & Gamble (NYSE: PG ) , which reported earnings that might underwhelm the casual observer but were still ahead of analysts' estimates. Excluding one-time items, the company earned $1.06 per share in the quarter, which was well ahead of the $0.96 expectation. But revenue fell 5% to $20.7 billion, and that's hardly a good sign for P&G or the global economy. Still, investors have pushed P&G's shares 2.7% higher today.
Airplane maker Boeing (NYSE: BA ) is in the doldrums this week despite reporting a solid quarter. The stock is down 2.4% after supplier Spirit AeroSystems (NYSE: SPR ) reported huge third-quarter charges due in part to products it makes for Boeing. I wouldn't read into this move too much, as Boeing raised its full-year forecast just yesterday.
Elsewhere in trading, gold is up 0.73% today, while oil has climbed 0.44%. Oil has been crushed recently over concerns over growth in the global economy.
P&G and Boeing have had their time in the limelight, but after the close it's Apple's (Nasdaq: AAPL ) turn to announce earnings. We have just what you need to keep up on Apple's numbers with our in-depth premium report. By picking up a copy of our premium research report on Apple, you'll learn everything you need to know about the iPhone 5 launch and receive ongoing guidance as key news hits. Claim your copy today by clicking here now.