US stocks mixed on economic news

Stocks were mixed in uneven trading on Wall Street today, with less-than-stellar economic data pressuring stocks and upbeat corporate news, including Johnson & Johnson’s US$25.4bn (€19.18bn) to buy Guidant Corporation, giving investors reasons to buy.

While the market’s overall trend remains higher, according to analysts, many investors repositioned their portfolios in advance of Friday’s quadruple-witching day – the quarterly expiration of index futures and options, as well as individual stock futures and options, that tends to add volatility to the market.