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Mixed earnings, failed Brexit vote push down S&P 500

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The benchmark S&P 500 index gave up modest gains on Tuesday from earlier in the ...

Procter & Gamble shares rose gained 2.8% and United Technologies advanced 2.4%, while McDonald’s shares fell 4.6% and Travelers shares declined 8.4%.

“With a lower bar, earnings aren’t really coming in that great,” said Matthew Miskin, co-chief market strategist at John Hancock Investment Management in Boston. “They’re not going to cut it to get the market popping out of its trading range.” Boeing shares rose after United Technologies’ chief financial officer said that the company believed Boeing would make 737 MAX planes at its current rate for the rest of the year. They pared gains slightly after the New York Times reported that the company’s executive in charge of commercial airplanes was expected to leave the company. Boeing shares were last up 2.1%.

 

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