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Senior Trader
Dow extends longest winning streak in three years.
U.S. stocks were mixed on Tuesday, remaining near-record territory, as considerable gains in Johnson & Johnson were offset by sharp declines in Netflix Inc shares after the global streaming film provider saw user growth fall precipitously over its previous quarter.
The Dow Jones Industrial Average gained 25.96 or 0.14% to close at an all-time high of 18,559.01, recording its eighth consecutive winning session.
At session-highs, the Dow reached an all-time intraday high of 18,562.19, hitting a record intra-session peak for the seventh straight session.
Since falling approximately 850 points in the two sessions following last month's Brexit decision, the Dow has rallied more than 8.25%. The eight-session winning streak is the Dow's longest in more than three years.
The NASDAQ Composite index fell 19.41 or 0.38% to 5,036.37, while the S&P Composite index lost 3.11 or 0.14% to 2,163.78, as Netflix weighed on both indices.
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Senior Trader
U.S. stocks retreat from record territory, as crashing oil prices weigh.
U.S. stocks retreated from record territory on Monday, taking a pause from its month-long hot streak, as crude futures slipped to three-month lows weighing heavily on the major indices on Wall Street.
At session-lows on Monday, WTI crude for September delivery traded at $42.98 a barrel falling below $43 for the first time since late-April. Oil futures extended their recent slide amid continuing signals of a supply glut among gasoline inventories. Over the weekend, analysts from Morgan Stanley (NYSE:MS) warned that the oversupply in the refined products market could curb demand in crude over the next several months pushing prices down even further. As a result, Morgan Stanley predicted that global crude demand will rise modestly by 625,000 barrels per day in 2016, far below forecasts from the International Energy Agency (IEA) of 1.3 million bpd for the year.
The Dow Jones Industrial Average fell 77.79 or 0.42% to 18,493.06, suffering just its second losing session over the last 12 trading days. The S&P 500 Composite index, meanwhile, lost 6.55 or 0.30% to 2,168.48, falling from record closing highs from the end of last week. On the S&P 500, nine of 10 sectors closed in the red, as Energy, Indus trials and Financials lagged. Energy stocks plunged by more than 2% for the session. Stocks in the Consumer Goods industry inched up on Monday to close as the session's over performer. The NASDAQ Composite index lost 2.53 or 0.05% to close at 5,097.63.
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Senior Trader
Wall St. edges lower as energy sector weighs.
The S&P 500 and the Dow closed slightly lower on Monday, as a drop in oil prices dragged down energy stocks, while tech names Apple and Alphabet helped lift the Nasdaq to its highest close in over a year.
The S&P 500 had hit a record high earlier in the session, but was unable to hold gains as U.S. crude slumped to below $40 a barrel, its lowest level since April, before settling at $40.06.
The S&P 500 gained 3.6 percent in July, its best month since March, touching record intraday highs seven times, as the U.S. economy showed signs of picking up and corporate earnings were not as bad as had been initially feared.
Earnings are now expected to decline 3 percent for the second quarter, according to Thomson Reuters data, an improvement from the 4.5 percent decline expected on July 1.
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Senior Trader
Dow Jones Industrial Average down 0.02%.
U.S. stocks were mixed after the close on Thursday, as gains in the Technology, Consumer Goods and Industrials sectors led shares higher while losses in the Healthcare, Financials and Oil & Gas sectors led shares lower.
At the close in NYSE, the Dow Jones Industrial Average lost 0.02%, while the S&P 500 index gained 0.02%, and the NASDAQ Composite index added 0.13%.
The best performers of the session on the Dow Jones Industrial Average were Visa Inc (NYSE:V), which rose 0.98% or 0.77 points to trade at 79.48 at the close. Meanwhile, Intel Corporation (NASDAQ:INTC) added 0.96% or 0.33 points to end at 34.58 and Microsoft Corporation (NASDAQ:MSFT) was up 0.74% or 0.42 points to 57.39 in late trade.
The worst performers of the session were Walt Disney Company (NYSE
IS), which fell 0.97% or 0.93 points to trade at 95.16 at the close. Home Depot Inc (NYSE:HD) declined 0.74% or 1.01 points to end at 136.05 and Boeing Company (NYSE:BA) was down 0.50% or 0.66 points to 131.21.
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Senior Trader
Wall Street open Higher.
Wall Street looked set to open little changed on Tuesday after the Christmas holiday weekend, even as the Dow Jones industrial average inches towards 20,000.
The Dow Jones industrial average marked its seventh straight week of gains on Friday, feeding on optimism that President-elect Donald Trump's plans for deregulation and infrastructure spending would bolster the economy.
Investors are awaiting new catalysts that would help the index breach the 20,000 mark before the year end.
"The first day of trading in the final week of 2016 is not likely to reverse form last week's trading sessions," Peter Cardillo, chief market economist at First Standard Financial wrote in a note.
Last edited by ashif; 12-27-2016 at 06:55 PM.
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Senior Trader
Wall Street slips.
U.S. stocks dipped Tuesday morning, pulled lower by financial and consumer discretionary names, and as investors focused on President Donald Trump's first speech to a joint session of Congress.Trump's promises of tax reform, infrastructure spendings, and simpler regulations have sparked a post-election rally that has propelled the main U.S. market indexes to record highs.
The address at 9:00 p.m. ET (0200 GMT) could touch on tax reforms, defense spending and his plans to overhaul the U.S. healthcare system.Indicating investors' focus on Trump's speech for clues on how he planned to implement his agenda, reactions was largely muted to data that showed U.S. economic growth slowed in the fourth quarter.
"If he gives minimal detail this evening, then perhaps we might get a little bit wind out of the sails on this recent equity move," said Erik Wytenus, global investment specialist at J.P. Morgan Private Bank.Trump's comments on "big" infrastructure spending on Monday helped the Dow Jones Industrial Average (DJI) mark its 12 straight record close, a feat not seen since 1987.
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