The markets traded lower during the midday with
the
Dow dropping 75 points to 12,517 as the deadlock in Congress continued. Nasdaq eased a fraction to
2842.
On the upside
Broadcom (Nasdaq: BRCM) reported lower second quarter earnings but the results beat expectations and the company forecast third quarter revenue ahead of estimates.
Office Depot (NYSE: ODP) widened second quarter losses but the results were better than expected.
Supervalu (NYSE: SVU) reported higher first quarter earnings that beat analyst expectations.
Second quarter earnings for Paccar (Nasdaq: PCAR) more than doubled but the results fell short of analyst expectations.
Patriot Coal (NYSE: PCX) narrowed second quarter losses as revenue rose but the company warned of higher expenses.
Illinois Tool Works (NYSE: ITW) reported second quarter earnings that fell short of analyst expectations prompting the company to lower its full year guidance.