S&P 500, Dow end lower with energy, financials; Tesla falls

13 August, 2018, 02:23 | Author: Martin Tyler
  • Dow down 200 emerging markets crashing on US-Turkey geopolitical concerns

The Nasdaq inched toward a record on the back of high-flying technology trio of Apple, Amazon and Microsoft, while gains in the Dow and the S&P 500 were limited as energy shares fell. The Nasdaq Composite rose 0.2 percent as Amazon shares hit an all-time high while Apple rose almost 1 percent.

Tesla Inc's shares also fell to a two-day low and wiped out all the gains fuelled by Chief Executive Elon Musk's recent tweet announcing a plan to take the company private.

The index is just 1 percent shy of a record it hit on January 26 as an estimated 24 percent jump in earnings from S&P companies testified to the strength of the world's biggest economy and corporate sector.

Stocks traded little changed on Thursday as the S&P 500 was within striking distance of reaching an all-time high. The stock ended down 4.8 per cent.

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Markets in Europe were also turbulent with Germany's DAX falling two percent, French CAC 40 falling nearly two percent, and Britain's FTSE 100 declining 0.8 percent.

The number of Americans filing for unemployment benefits unexpectedly fell last week, a Labor Department report showed.

The S&P 500 posted 26 new 52-week highs and three new lows; the Nasdaq Composite recorded 97 new highs and 68 new lows.

The S&P 500 lost 7.07 points, or 0.2 per cent.

'Time Has Come' For US Space Force, Sixth Military Branch: Mike Pence
We've seen repeatedly where the Air Force has reached into space program funds to put them against fighter jets, bombers, tankers. On Tuesday, Secretary of Defense Jim Mattis called Pence "the point man" on issues pertaining to the U.S. military and space.

The Dow Jones Industrial Average fell 69.30 points, or 0.27%, to 25,514.45, the S&P 500 erased 3.57 points, or 0.12%, to 2,854.13 and the Nasdaq Composite gained 5.03 points, or 0.06%, to 7,893.35. Tribune shares rose 2.9 percent.

Rite Aid (RAD.N) fell 11.5 percent after the drug store chain and USA grocer Albertsons Cos ABS.N agreed to terminate their merger agreement. "You have banks losing because the 10-year U.S. Treasury came down". Chip stocks fell after Morgan Stanley downgraded the USA semiconductor industry.

About 5.9 billion shares changed hands on U.S. exchanges.

Advancing issues outnumbered decliners by a 1.68-to-1 ratio on the NYSE and by a 1.58-to-1 ratio on the Nasdaq.

Melania's parents' lawyer says they obtained citizenship through chain migration
The Slovenian immigrants, a former vehicle dealer and textile factory worker, had been living in the U.S.as permanent residents. Their son-in-law has frequently attacked USA immigration laws, calling them the "dumbest laws on immigration in the world".

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