The DJIA notched its eighth straight daily win and a fresh record closing high
The
Dow Jones Industrial Average (DJIA) traded on both sides of breakeven today, amid the latest round of blue-chip earnings. While Dow stocks Johnson & Johnson (NYSE:JNJ) and UnitedHealth Group Inc (NYSE:UNH) managed positive post-earnings performances, Goldman Sachs Group Inc (NYSE:GS) succumbed to "somewhat disappointing" earnings. However, a last-minute push higher was enough to send the Dow to a fresh record closing high -- and its eighth consecutive daily win, the longest such streak since March 2013. Elsewhere, a sell-off in tech stocks following disappointing earnings from Netflix, Inc. (NASDAQ:NFLX) smacked the Nasdaq Composite (COMP), while the S&P 500 Index (SPX) pulled back as crude oil futures fell to two-month lows.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 18,559.01) edged 26 points, or 0.1%, higher, for yet another all-time closing high, plus an eighth straight win. Fifteen out of 30 Dow components closed higher, led by McDonald's Corporation's (NYSE:MCD) 2.2% advance. The Coca-Cola Co (NYSE:KO) and Pfizer Inc. (NYSE:PFE) both closed flat. Microsoft Corporation (NASDAQ:MSFT) was the biggest loser, with a 1.6% loss.
The S&P 500 Index (SPX - 2,163.78), however, finished lower, dropping 3.1 points, or 0.1%. The Nasdaq Composite (COMP - 5,036.37) fell 19.4 points, or 0.4%.
The CBOE Volatility Index (VIX - 11.97) dipped 0.5 point, or 3.8%, for its fifth straight loss.
5 Items on Our Radar Today:
- An increase in construction activity led to a larger-than-expected jump in U.S. home building in June. While housing starts increased 4.8% for the month to a seasonally adjusted pace of 1.2 million units, downward revisions for April and May readings caused concern. (Reuters)
- Reports indicate Fox News anchor Megyn Kelly told investigators that network CEO Roger Ailes sexually harassed her in the past. The claim comes after former Fox News host Gretchen Carlson filed a sexual harassment lawsuit against Ailes. (Bloomberg)
- The allegations sinking this Chinese internet stock.
- How MCD and GameStop Corp. (NYSE:GME) are taking advantage of the "Pokemon Go" craze.
- Why an Apple Inc. (NASDAQ: AAPL) earnings outperformance is far from guaranteed.
Data courtesy of Trade-Alert
Commodities:
Crude oil futures fell today amid a strengthening U.S. dollar. By the close, crude oil dated for August delivery was down 59 cents, or 1.3%, at $44.65 per barrel, the lowest close in over two months.
Gold futures, though, rose as the stock rally faded. August-dated gold futures closed the day up $3, or 0.2%, at $1,332.30 per ounce.
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