The Dow Jones Industrial Average fell 36 points, or 0.1%, while the S&P 500 index and the Nasdaq Composite index advanced 0.34% and 0.84%, respectively.
|I:DJI||DOW JONES AVERAGES||35227.03||+646.95||+1.87%|
|I:COMP||NASDAQ COMPOSITE INDEX||15225.152466||+139.68||+0.93%|
Industrial production fell 1.3% in September, missing the 0.2% gain that was expected. The August print was revised lower to a 0.1% contraction from a previous reading of 0.4% growth.
Elsewhere, the Chinese economy grew at a 4.9% pace in July through September from a year earlier, down from 7.9% in the previous quarter, as ongoing supply bottlenecks and the Evergrande debt crisis weighed on confidence. Economists surveyed by Refinitiv were expecting 5.2% growth.
In stocks, oil companies, including Chevron Corp. and Diamondback Energy Inc., were in focus as West Texas Intermediate crude oil touched a seven-year high of $83.87 before paring its gains and finishing up 16 cents at $82.44 a barrel.
|FANG||DIAMONDBACK ENERGY, INC.||108.23||+2.23||+2.10%|
Meanwhile, financials were in focus as the yield on the 10-year Treasury note rose 1 basis point to 1.58%, holding near a four-month high.
|JPM||JPMORGAN CHASE & CO.||160.16||+1.90||+1.20%|
|BAC||BANK OF AMERICA CORP.||44.15||+0.28||+0.64%|
Zillow Group Inc. will put its homebuying program on hold as it works through a backlog of inventory, according to a report from Bloomberg News.
|ZG||ZILLOW GROUP, INC.||60.27||+0.84||+1.41%|
Walt Disney Co. was cut to "equal-weight" from "overweight" at Barclays, which also lowered its price target to $175 from $210 amid concerns over slowing subscriber growth for its streaming service.
|DIS||THE WALT DISNEY CO.||150.37||+4.15||+2.84%|
In earnings, Albertsons Companies Inc. beat on both the top and bottom lines and hiked its quarterly dividend by 20%.
American Airlines Group Inc., Johnson & Johnson, Netflix Inc and Tesla Inc. are among the companies reporting their quarterly results later this week.
|AAL||AMERICAN AIRLINES GROUP, INC.||17.93||+1.31||+7.88%|
|JNJ||JOHNSON & JOHNSON||162.94||+3.56||+2.23%|
Overseas markets were mostly weaker.
European bourses were lower across the board with Britain’s FTSE 100 sliding 0.42%, Germany’s DAX 30 declining 0.72% and France’s CAC 40 falling 0.81%.
In Asia, China’s Shanghai Composite index and Japan’s Nikkei 225 lost 0.12% and 0.15%, respectively, while Hong Kong’s Hang Seng index edged up 0.31%.