NEW YORK (AP) — Stronger earnings from Boeing and Caterpillar are sending the Dow Jones industrial average higher, but the broader market is mixed following a sharp drop in new home sales and a rare earnings miss from Apple.
The Dow was up 45 points at 12,662 on Wednesday. The Standard & Poor's 500 slipped three points to 1,335. The Nasdaq composite fell 11 points to 2,852. The Nasdaq's biggest component, Apple, dropped $28.25 to $572.67, a loss of 5 percent.
Boeing rose $1.55, or 2 percent, to $73.58 after surprising investors with higher earnings. Caterpillar rose 72 cents, or nearly 1 percent, to $82.15. It blew away analysts' estimates with a 67 percent surge in profits for the second quarter.
The Commerce Department said sales of new homes plunged 8 percent last month.