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Nasdaq, S&P open at record highs

19 Juillet 2017

The S&P 500 hit a record intraday high at the open, with health care leading advancers. The Nasdaq Composite added 22.48 points, or 0.35 percent, to 6,366.79.

The Dow Jones Industrial Average on Wednesday was being pressured lower by a sharp drop in shares of International Business Machines Corp., in early trade.

Second medal for Aurelie Muller
Giulia Gabbrielles of Italy placed 6th, while Michelle Weber of South Africa and Kiah Melverton of Australia shared the 7th place. It was her first individual title in an event that has now been won by USA swimmers in three successive world championships.

Dow-component IBM reported mixed quarterly results, with earnings per share topping expectations and sales disappointing. Wednesday's early share decline for IBM puts it on track for its worst single-day drop since April 19, when shares tumbled almost 5% after the Armonk, N.Y. based company reported disappointing first-quarter results. The company also said its revenue declined for the 21st straight quarter, pushing the stock down by 2.7 percent and capping gains on the price-weighted Dow.

Earnings season has gotten off to a solid start. "On the other hand, Netflix's strong results has caused money to move to tech stocks in anticipation of stronger earnings".

Nasdaq, S&P open at record highs