The markets opened lower with the Dow falling 58 points to 18,539 over renewed concerns of a potential interest rate increase. Nasdaq lost 5 points to 5,234.
On the upside
Goldman Sachs upgraded Restoration Hardware (NYSE: RH) from a Neutral rating to a Conviction Buy rating.
Corrections Corporation of America (NYSE: CXW) responded to the Justice Department's decision to reduce the use of private prisons and clarified that contracts with the Federal Bureau of Prisons represented approximately 7% of the company's annual revenue.
Foot Locker (NYSE: FL) reported higher second quarter earnings and revenue that beat analyst expectations.
On the downside
KeyBank Capital Markets downgraded AK Steel Holding (NYSE: AKS) from a Sector Weight rating to an Underweight rating.
Investors locked in profits on Ensco (NYSE: ESV).
Profit taking weighed down shares of Sanchez Energy (NYSE: SN).
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 rose 4 points to 2,187. Bitcoin added $1 to $573.
