Stock Market Today

MEXICO CITY -(Dow Jones)- Retail sales in Mexico grew three.1% in July from theyear-earlier month and also rose from June, the National Statistics Institute,or Inegi, said Wednesday.

Higher sales of cars, clothing and footwear, and stationery contributed to theincrease from a year earlier, Inegi said. Gains were offset by lower sales offood and beverages, computers and home appliances.

The three.1% increase was below the three.8% median estimate of 12 economists polledby Dow Jones Newswires.

Inegi said retail sales also rose 0.4% from June in seasonally adjusted terms,while wholesale sales, which are frequently a sign of retail sales in thepipeline, rose 0.17% seasonally adjusted from June and fell 1.2% from July 2010.

The July results brought growth in retail sales for the first seven months ofthe year to 2.9%.

By Anthony Harrup, Dow Jones Newswires; (5255) 5980-5176, anthony.harrup@dowjones.com

 (Finish) Dow Jones Newswires 09-21-110937ET Copyright (c) 2011 Dow Jones & Company, Inc.

MEXICO CITY -(Dow Jones)- Retail sales in Mexico grew three.1% in July from theyear-earlier month and also rose from June, the National Statistics Institute,or Inegi, said Wednesday.

Higher sales of cars, clothing and footwear, and stationery contributed to theincrease from a year earlier, Inegi said. Gains were offset by lower sales offood and beverages, computers and home appliances.

The three.1% increase was below the three.8% median estimate of 12 economists polledby Dow Jones Newswires.

Inegi said retail sales also rose 0.4% from June in seasonally adjusted terms,while wholesale sales, which are frequently a sign of retail sales in thepipeline, rose 0.17% seasonally adjusted from June and fell 1.2% from July 2010.

The July results brought growth in retail sales for the first seven months ofthe year to 2.9%.

By Anthony Harrup, Dow Jones Newswires; (5255) 5980-5176, anthony.harrup@dowjones.com

 (Finish) Dow Jones Newswires 09-21-110937ET Copyright (c) 2011 Dow Jones & Company, Inc.

–Prices slightly lower ahead of FOMC announcement

–Brent spread widens

–Inventory data due out at 10:30 a.m. EDT

By Christian Berthelsen

Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- Nymex oil futures meandered lower Wednesday morning inlight trading as investors wait to see what action the Federal Reserve mayannounce inside the afternoon.

Light, sweet crude for November delivery fell 67 cents, or 0.8%, to $86.25 abarrel on the New York Mercantile Exchange. Brent crude on the ICE FuturesEurope exchange rose 36 cents, or 0.3%, to $110.90 a barrel.

The Fed’s policy-making arm wraps up a two-day meeting later Wednesday. Marketobservers are speculating that the Fed may announce another round ofquantitative easing, or QE–particularly a policy nicknamed “the twist.” Thatwould focus on shoring up long-term interest rates to spur greater capitalinvestment and lending now.

Nevertheless, traders are mixed on what impact a “twist” would have on the oilmarket.

Investors also are looking toward the Energy Data Administration’srelease of oil inventory data for the week ended Sept. 16. Crude-oil stockpileswere expected to have fallen by 900,000 barrels, according towards the mean of 15analyst forecasts gathered by Dow Jones Newswires.

The American Petroleum Institute, an industry trade association, reported lateTuesday afternoon that crude inventories rose 2.574 million barrels.

The spread between the Nymex and Brent contracts is widening once again asreports of North Sea crude shipping delays are propping up the Brent cost. Thespread was $24.30, up 68 cents, in morning trading, an increase of three.7% sinceits Monday settlement.

Front-month October reformulated gasoline blendstock, or RBOB, rose 39 cents,or 0.14%, to $2.7053 a gallon. October heating oil dropped 47 cents, or 0.17%,to $2.9569 a gallon.

-By Christian Berthelsen, Dow Jones Newswires; 212-416-2381;christian.berthelsen@dowjones.com.

 (Finish) Dow Jones Newswires 09-21-110941ET Copyright (c) 2011 Dow Jones & Company, Inc.

–Prices slightly lower ahead of FOMC announcement

–Brent spread widens

–Inventory data due out at 10:30 a.m. EDT

By Christian Berthelsen

Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- Nymex oil futures meandered lower Wednesday morning inlight trading as investors wait to see what action the Federal Reserve mayannounce inside the afternoon.

Light, sweet crude for November delivery fell 67 cents, or 0.8%, to $86.25 abarrel on the New York Mercantile Exchange. Brent crude on the ICE FuturesEurope exchange rose 36 cents, or 0.3%, to $110.90 a barrel.

The Fed’s policy-making arm wraps up a two-day meeting later Wednesday. Marketobservers are speculating that the Fed may announce another round ofquantitative easing, or QE–particularly a policy nicknamed “the twist.” Thatwould focus on shoring up long-term interest rates to spur greater capitalinvestment and lending now.

Nevertheless, traders are mixed on what impact a “twist” would have on the oilmarket.

Investors also are looking toward the Energy Data Administration’srelease of oil inventory data for the week ended Sept. 16. Crude-oil stockpileswere expected to have fallen by 900,000 barrels, according towards the mean of 15analyst forecasts gathered by Dow Jones Newswires.

The American Petroleum Institute, an industry trade association, reported lateTuesday afternoon that crude inventories rose 2.574 million barrels.

The spread between the Nymex and Brent contracts is widening once again asreports of North Sea crude shipping delays are propping up the Brent cost. Thespread was $24.30, up 68 cents, in morning trading, an increase of three.7% sinceits Monday settlement.

Front-month October reformulated gasoline blendstock, or RBOB, rose 39 cents,or 0.14%, to $2.7053 a gallon. October heating oil dropped 47 cents, or 0.17%,to $2.9569 a gallon.

-By Christian Berthelsen, Dow Jones Newswires; 212-416-2381;christian.berthelsen@dowjones.com.

 (Finish) Dow Jones Newswires 09-21-110941ET Copyright (c) 2011 Dow Jones & Company, Inc.

By Jonathan Cheng

U.S. stocks opened mixed Wednesday as cautious investors readied themselvesfor the Federal Reserve’s policy statement.

The Dow Jones Industrial Typical fell 9 points at 11398. The Standard & Poor’s500-stock index gained two points, or 0.2%, to 1204 and also the Nasdaq Compositeadded 18 points, or 0.7%, to 2608.

Leading the gains had been technology and telecommunications stocks. InternationalBusiness Machines rose 0.8%.

Weighing on the downside were materials, energy and industrial stocks.Caterpillar fell 1.1%.

Investors are looking ahead to a statement to be released around 2:15 p.m.,after the finish of a two-day meeting of the Fed’s policy-setting committee. Manyare expecting the Fed to announce measures to stimulate a struggling economy,which includes changing the composition of its securities portfolio so it holds morelonger-term debt, a move known as “Operation Twist.”

On the economic calendar, data on existing home sales for August are scheduledfor release at 10 a.m. EDT.

The Dow is looking to extend a winning streak that has seen gains in six ofthe last seven days, though Tuesday’s trading saw a gain of nearly 150 pointsevaporate, with the blue-chip index edging up just eight points.

In overseas markets Wednesday, Europe was mostly lower. The Stoxx Europe 600down 0.7%, as the lack of an announcement of a deal on Greek financing worriedinvestors that recent progress was slowing. Asian markets mostly higher; China’sShanghai Composite rose 2.7%.

Gold futures slipped to around $1,800 an ounce. Crude oil futures were offslightly to below $87 a barrel, but the direction may change after the releaseof weekly inventory data at 10:30 a.m. EDT.

The U.S. dollar was mixed, easing against the yen while trading flat againstthe euro. Treasurys rose, sending the yield on the 10-year note back nearhistoric lows, at 1.9375%.

In corporate news, shares of Oracle rallied 7.2% after the business-softwarecompany reported fiscal first-quarter results that came in at the high finish ofits forecast. Revenue from new licenses grew by 17%.

Adobe Systems climbed 6.1% after the software program company reported fiscal third-quarter earnings that exceeded estimates. Adobe provided an upbeat outlook forthe current quarter.

General Mills gained 1.9% after fiscal first-quarter results had been higher thanexpected, along together with the packaged foods company affirmed its full-year outlook.

Elsewhere, Walter Power dropped 14%. The metallurgical-coal producer providedan earnings outlook for the second half of its fiscal year that was nicely belowexpectations.

 (Finish) Dow Jones Newswires 09-21-111001ET Copyright (c) 2011 Dow Jones & Company, Inc.