Wall Street Mixed After
Markets began our session solidly positive, but as our trading session ended November 13, 2015, a looming rate hike and weak retail going into the holiday season dampened investor spirits.
The HVACR Business Stock Index gained 13.21 points, or 1.15 percent, and closed at 1158.73. Advancing issues topped declining issues at a 21-to-12 count.
The Commerce Department reported that the economy cooled off in the summer months, with lower production and inventories. The gross domestic product improved just 1.5 percent, lower than forecast.
Home sales and housing starts rallied in September after the August slump. The National Association of Realtors said that sales of existing homes climbed 4.7 percent in September.
The gross domestic product improved just 1.5 percent, lower than forecast. The Federal Reserve indicated that the economy may be strong enough to weather a rate hike in December.
Lennox bested expectations and shares soared 15.51 points, or 13.16 percent. LII reported third quarter net income of $80.3 million, or $1.76 per share, compared to net income of $67.4 million, or $1.38 per share earned in the same quarter last year.
Year-to-date combined shipments of central air conditioners and air-source heat pumps increased 1.8 percent, to 5,700,792 units, up from 5,599,693 units shipped in September 2014.
Year-to-date shipments of central air conditioners increased 3.0 percent to 3,824,980 units, up from 3,713,244 units shipped during the same period in 2014.