Wall Street closes mixed, records gains for July
Major equity indexes in the U.S. closed the day mixed with the Dow Jones Industrial Average rising to record highs, S&P 500 closing flat, and Nasdaq recording sharp losses. Nevertheless, they were all able to end July higher.
Boeing grabbed investors attention as the best performing stock in the Dow Jones Industrial Average. After refreshing its record high at 21,929.80, the index finished the day at 21,891.12, up 60.81 points, or 0.28% on the day.
On the other hand, Facebook shares dropped nearly 2% while the Alphabet (GOOGL.O) lost 1.3%, weighing on the tech-heavy Nasdaq Composite. Although the index closed at 6,348.12 on Monday, losing -26.55 points, or 0.42%, it was up more than 4% in July.In the meantime, the S&P 500 struggled to find direction and closed the day nearly flat at 2,470.30 after recovering from its daily low of 2,468.53. On a monthly basis, the index gained around 2%.
"The bull market is sort of broadening out, and people are taking a few profits off the table on some these stocks that have done exceedingly well," Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas, told Reuters.
Headlines from the U.S. session:
- Forex today: dollar and rates down, euro and sterling on a tear
- WTI settles above $50 as DXY remains below 93
- Trump removes Scaramucci as communications director - NYT
- US: Personal Income expected to rise 03% in June - Wells Fargo
- Econ. advisor Cohn: Trump is 100% committed to getting tax reform done this year
- US crude oil production rose 59,000 bpd in May to 9.169 mln bpd - EIA
- US Pending Home Sales: A broad-based rebound in June - Wells Fargo
- OPEC oil output jumps to 2017 high on further Libya recovery - Reuters
- The US week ahead is an important one for markets - UOB