Stocks mostly flat the day after the Dow breaks 20,000
US stock indexes were mostly flat in morning trading Thursday, the day after the Dow Jones industrial average closed above 20,000 for the first time. Technology stocks were down the most, while financial companies led the gainers. Investors have their eye on the latest company earnings news.
The Standard & Poor’s 500 index fell 1 point to 2,296 as of 11:15 a.m. Eastern time. TheNasdaq composite index slid 3 points, or 0.1%, to 5,651. The Dow edged up 27 points, or 0.1%, to 20,111. Small-company stocks did worse than the rest of the market. The Russell 2000 slid 7 points, or 0.5%, to 1,375. More stocks fell than rose on the New York Stock Exchange.
RECORD RUN: It’s been a record-making week on Wall Street. The S&P 500 index and Nasdaq composite closed at all-time highs Tuesday and Wednesday. The Dow, which tracks 30 major industrial companies, added its own milestone Wednesday, breaching the 20,000 mark for the first time. The market is getting a boost from strong company earnings and investor optimism that the Trump administration’s policies on taxes, regulation and trade will be good for business.
THE QUOTE: “Earnings have come in strong for sure,” said Patrick Schaffer, global investment specialist at J.P. Morgan Private Bank. “This is a very important component of the rally that we’ve seen.”
NO JOY: Mattel sank 14.4% to $27.01 after the Los Angeles-area toymaker reported a big slowdown in sales over the holidays. The stock was the biggest decliner in the S&P 500.
everest has been breached..what goes up..yeah..beware..
“the Dow Jones industrial average closed above 20,000 for the first time. Technology stocks were down the most, while financial companies led the gainers. Investors have their eye on the latest company earnings news.”