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Principale » S&P hits record; Alphabet weighs on Nasdaq

S&P hits record; Alphabet weighs on Nasdaq

26 Juillet 2017

USA stocks are ending mostly lower, led by drops in retailers and industrial stocks. A drop in Google-parent Alphabet Inc., after reporting earnings late-Monday, weighed on the technology-centric index.

The Dow Jones Industrial Average rose 150.58 points, or 0.7 percent, to 21,663.75.

Stocks open mostly higher, with the S&P 500 and DJIA rising to new intraday records, following another generally positive batch of earnings reports; Dow +0.5% and S&P +0.3%, but Nasdaq -0.1%. The Nasdaq Composite dropped 5.50 points, or 0.09 percent, to 6,405.31.

Individual movers: Shares in Alphabet (GOOGL) (GOOGL) fell 3% in premarket action.

Fed will likely focus on low inflation but leave rates alone
The balance sheet was built up with Fed asset purchases, or quantitative easing, during and after the Great Recession. This is meant to spur economic growth by allowing businesses to borrow cheap money to use for expansion.

TechnipFMC PLC's stock (FTI.FR) (FTI.FR) dived 8% premarket after the provider of oilfield services said it would restate some prior results (http://www.technipfmc.com/en/media/press-releases/technipfmc-plc-restatement-of-the-unaudited-interim-condensed-consolidated-financial-information-as) because of material errors.

Economic news: A May figure for a home price index is slated to hit at 9 a.m. Consumer confidence data for July from the Conference Board is due out at 10 a.m. ET. Also, Caterpillar rose by 4.7%, and has touched more than five-year high after the firm raised its full-year outlook for the second time this year.

The Federal Open Market Committee today swings into its two-day meeting in Washington D.C. that will wrap up with a policy announcement Wednesday afternoon. Asian markets closed mixed.

S&P hits record; Alphabet weighs on Nasdaq