CORRECTED – US STOCKS-Wall St rises, homebuilder sentiment limits gains

(Corrects title, location of Michael Sheldon in 6th
paragraph)

* Halliburton profit tops estimates

* Homebuilder sentiment falls to lowest in more than yr

* Boeing to announce new orders

* Indexes up: Dow 0.3 pct, S&P 0.2 pct, Nasdaq 0.3 pct

* For up-to-the-minute market news see [STXNEWS/US]
(Updates to midday, changes byline)

By Matthew Lynley

NEW YORK, July 19 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) were modestly
higher on Monday, but gains were hemmed in as downbeat
homebuilder sentiment offset solid earnings from Halliburton
and a strong order outlook from Boeing.

Halliburton Co (HAL.N: ) posted a better-than-expected 83
percent jump in quarterly profit on strong U.S. onshore
drilling. Boeing Co (BA.N: ) will unveil a significant number of
new orders in the coming days and won an order for 30 777
wide-bodies from Dubai-based Emirates. For details, see
[ID:nN19184447] and [ID:nLDE66I1B5]

Halliburton rose 4.8 percent to $28.84, and Boeing jumped
1.4 percent to $62.75.

But weak corporate revenues weighed on stocks, underscoring
views of a sketchy economic recovery. Both Hasbro Inc (HAS.N: )
and Delta Air Lines Inc (DAL.N: ) posted revenues that fell short
of expectations. [ID:nN15228630] and [ID:nN19182347]

Hasbro dipped 1.1 percent to $39.06, while Delta fell 3.5
percent to $11.35.

“In the cases where all or most of the earnings were
generated in improved margins and cost-cutting, those stocks
are seen as low-quality,” said Michael Sheldon, chief market
strategist at RDM Financial in Westport, Connecticut.

U.S. homebuilder sentiment fell more than expected in July
to its lowest level in more than a year after a homebuyer tax
credit expired. [ID:nWALJIE6DE] The PHLX Stock Exchange Housing
index (.HGX: ) fell nearly 1 percent.

“With the tax credit now gone, that creates a hole in
homebuying, and we’re seeing that manifest as weakness in the
market, reinforcing concerns that the expansion is slowing
down,” said Charles Lieberman, chief investment officer of
Advisors Capital Management LLC in Paramus, New Jersey.

The Dow Jones industrial average (.DJI: ) was up 24.90
points, or 0.25 percent, at 10,122.80. The Standard & Poor’s
500 Index (.SPX: ) added 2.19 points, or 0.21 percent, at
1,067.07. The Nasdaq Composite Index (.IXIC: ) rose 5.93 points,
or 0.27 percent, at 2,184.98.

The S&P 500 hit a low of about 1,061 today, right on the
index’s 14-day moving average and the 23.6 percent retracement
of the benchmark’s 2010 high-to-low decline, suggesting a level
of resistance where pockets of buying would be expected.

International Business Machines Corp (IBM.N: ) was up 1.1
percent to $129.43, trading near its 14-, 50- and 200-day
moving averages ahead of its earnings report after the bell.

Texas Instruments Inc (TXN.N: ), which also reports later
Monday, rose 2 percent to $25.25.

Advancers outweighed decliners on the New York Stock
Exchange and Nasdaq by more than two-to-one.

Stock Market Research Tools

(Reporting by Matthew Lynley; editing by Jeffrey Benkoe)

CORRECTED – US STOCKS-Wall St rises, homebuilder sentiment limits gains