On the upside
Apple (Nasdaq: AAPL) is planning to unveil new software for its iPhone in an event for journalists.International Paper (NYSE: IP) refinanced $645 million in debt. Shares of the paper and forest products company rose.
The insurance sector rallied for a second day in row on hopes of an economic recovery. Shares of Hartford Financial Services (NYSE: HIG) were among the morning's biggest gainers.
On the downside
Nokia announced that it would cut 1700 jobs worldwide, more than 1% of global workforce of 128,400.
Alcoa (NYSE: AA) cut its dividend. It was a first for the nation's largest aluminum producer.
Share of Chinese Internet portal operator Sina (Nasdaq: SINA) opened sharply lower on worries that its revenue and earnings growth would slow.
In the broad market, advancing issues outpaced decliners by a slim margin on the NYSE and by 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 387.
