US close: Markets mixed as investors close their wallets

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US stocks took a breather on Thursday, following mixed economic data and ahead of key corporate updates from tech heavyweights Microsoft and eBay.

The Dow Jones industrial Average closed down 0.13% at 21,611.78, while the S&P 500 was down 0.02% at 2,473.45 and the Nasdaq 100 was ahead 0.09% at 5,921.22.

On Wednesday, the Nasdaq and S&P 500 hit records highs, boosted by strength in the technology sector and a solid earnings release from Morgan Stanley.

CMC Markets market analyst David A madden noted that after an “impressive” run recently, the Dow Jones, S&P 500 and Nasdaq 100 all retreated from record highs earlier in the session as traders locked in their profits.

He said the major US equity indices were grinding out fresh record highs after fresh record highs, and traders were now taking of their cash off the table.

“The political problems that Donald Trump is suffering from doesn’t encourage traders to remain long as there are doubts over what else the Republican Party may be divided over,” Madden added.

“The weakness in the US dollar today couldn’t prop up the US equity markets as political trouble for Trump spells problems for both the greenback and stocks.”

Initial weekly US employment claims fell by 15,000 during the week ending on 15 July, a new cycle and record low according to the Department of Labor.

The Federal Reserve bank of Philadelphia’s regional manufacturing gauge slipped from 27.6 for June to 19.5 in May, against a consensus for 23.0, with the new orders sub-index down from 25.9 to 2.1 – its lowest reading since August 2016.

On the US corporate front, Bank of New York Mellon was 1.66% higher after it released second-quarter earnings per share of $0.88 and sales of $3.96bn versus estimates of $0.84 and $3.89bn.

Chip designer Qualcomm was 4.95% lower after missing analysts’ forecasts for its bottom line in the third quarter and after issuing weaker than expected third quarter guidance, with the latter failing to mention sales related to Apple products.

Stock in insurer Travelers was 1.49% lower, having delivered mixed second quarter results.

Home Depot was a top faller, with market commentary linking the 4.03% move in its shares to rival Sears’ announcement that it would begin selling its Kenmore line of white goods via Amazon.com.

Dow Jones – Risers

Nike Inc. (NKE) $59.10 2.30%
Verizon Communications Inc. (VZ) $44.28 1.77%
Unitedhealth Group Inc. (UNH) $191.50 1.22%
Johnson & Johnson (JNJ) $136.63 1.01%
Intel Corp. (INTC) $34.75 0.55%
Merck & Co. Inc. (MRK) $62.94 0.51%
Walt Disney Co. (DIS) $107.36 0.51%
Microsoft Corp. (MSFT) $74.22 0.49%
Procter & Gamble Co. (PG) $88.60 0.28%
McDonald’s Corp. (MCD) $154.31 0.21%

Dow Jones – Fallers

Home Depot Inc. (HD) $147.03 -4.09%
Travelers Company Inc. (TRV) $124.57 -1.49%
General Electric Co. (GE) $26.69 -0.93%
American Express Co. (AXP) $85.35 -0.67%
E.I. du Pont de Nemours and Co. (DD) $84.84 -0.61%
United Technologies Corp. (UTX) $122.45 -0.51%
Caterpillar Inc. (CAT) $107.26 -0.49%
Apple Inc. (AAPL) $150.34 -0.45%
Boeing Co. (BA) $210.28 -0.28%
Goldman Sachs Group Inc. (GS) $222.30 -0.26%

S&P 500 – Risers

Frontier Communications Co. (FTR) $14.91 4.34%
Mallinckrodt Plc Ordinary Shares (MNK) $46.74 4.10%
Perrigo Company plc (PRGO) $75.51 3.94%
Tenet Healthcare Corp. (THC) $20.66 3.77%
BB&T Corp. (BBT) $46.26 3.35%
L3 Technologies Inc (LLL) $177.98 3.35%
United Rentals Inc. (URI) $122.54 3.24%
Mylan Inc. (MYL) $39.49 3.00%
Abbott Laboratories (ABT) $50.85 2.87%
Regeneron Pharmaceuticals Inc. (REGN) $521.13 2.83%

S&P 500 – Fallers

Alliance Data Systems Corp. (ADS) $238.62 -9.45%
PPG Industries Inc. (PPG) $106.51 -6.06%
Lowe’s Companies Inc. (LOW) $72.70 -5.56%
CH Robinson Worldwide Inc (CHRW) $65.01 -5.36%
QUALCOMM Inc. (QCOM) $53.97 -4.95%
Snap On Inc. (SNA) $150.34 -4.67%
Chipotle Mexican Grill Inc. (CMG) $356.76 -4.50%
Whirlpool Corp. (WHR) $190.15 -4.34%
TripAdvisor Inc. (TRIP) $37.89 -4.32%
Range Resources Corp. (RRC) $21.64 -4.16%

Nasdaq 100 – Risers

Mylan Inc. (MYL) $39.49 3.00%
Regeneron Pharmaceuticals Inc. (REGN) $521.13 2.83%
Incyte Corp. (INCY) $133.79 2.56%
Skyworks Solutions Inc. (SWKS) $107.64 2.12%
Alexion Pharmaceuticals Inc. (ALXN) $129.81 1.97%
Maxim Integrated Products Inc. (MXIM) $47.84 1.55%
Nvidia Corp. (NVDA) $167.50 1.45%
Liberty Global plc Series A (LBTYA) $33.03 1.44%
Tesla Inc (TSLA) $329.92 1.43%
Liberty Global plc Series C (LBTYK) $31.92 1.30%

Nasdaq 100 – Fallers

Check Point Software Technologies Ltd. (CHKP) $107.41 -7.18%
QUALCOMM Inc. (QCOM) $53.97 -4.95%
Dentsply International Inc. (XRAY) $63.03 -2.45%
Discovery Communications Inc. Class A (DISCA) $26.60 -2.13%
CSX Corp. (CSX) $50.87 -1.93%
Discovery Communications Inc. Class C (DISCK) $25.71 -1.91%
Shire Plc Ads (SHPG) $160.22 -1.58%
T-Mobile Us, Inc. (TMUS) $61.12 -1.37%
Illumina Inc. (ILMN) $171.97 -1.10%
Ctrip.Com International Ltd. Ads (CTRP) $57.36 -1.02%

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