23 Jul 2015
Dow Jones weakens moderately on disappointing earnings
FXStreet (Mumbai) - The Dow Jones Industrial Average (DJIA) suffered moderate losses in the early US session on Thursday on account of disappointing earnings reports from big US companies.
Currently, the DJIA is down 22.54 points, or 0.13%, to 17828.50. The S&P 500 index is largely unchanged at 2114.80. The Nasdaq Composite Index added 12.25 points to trade at 4635.49.
American Express falls 3%
Shares in American Express fell 3%; to be among the top 5 losers in the Dow, after the credit-card company’s second-quarter earnings fell 3.7%. Caterpillar shares also declined more than 2% after it reported reported a steeper-than-expected 13% drop in quarterly sales. Shares in 3M dropped more than 3%, to become the biggest loser in the Dow after the company reported a lower 2015 earnings guidance.
On the plus side, General motor, a non index stock, rose almost 6% after it reported a sharp rise in second quarter profit. Among the index stocks, Apple, Microsoft, IBM, Cisco, and Intel strengthened.
Meanwhile, ahead in the day, the investors may also cheer the upbeat domestic data released today. Initial jobless claims fell to a four-decade low of 255,000 in the week ended July 18, the lowest level since 1973.
Currently, the DJIA is down 22.54 points, or 0.13%, to 17828.50. The S&P 500 index is largely unchanged at 2114.80. The Nasdaq Composite Index added 12.25 points to trade at 4635.49.
American Express falls 3%
Shares in American Express fell 3%; to be among the top 5 losers in the Dow, after the credit-card company’s second-quarter earnings fell 3.7%. Caterpillar shares also declined more than 2% after it reported reported a steeper-than-expected 13% drop in quarterly sales. Shares in 3M dropped more than 3%, to become the biggest loser in the Dow after the company reported a lower 2015 earnings guidance.
On the plus side, General motor, a non index stock, rose almost 6% after it reported a sharp rise in second quarter profit. Among the index stocks, Apple, Microsoft, IBM, Cisco, and Intel strengthened.
Meanwhile, ahead in the day, the investors may also cheer the upbeat domestic data released today. Initial jobless claims fell to a four-decade low of 255,000 in the week ended July 18, the lowest level since 1973.