Economy

How major US stock indexes fared Friday

How major US stock indexes fared Friday

The industrial index fell 0.3 percent as a drop in shares of trade-sensitive stocks such as Boeing and Caterpillar dragged.

The S&P 500 closed at 2,833.28 for a loss of -20.30 points or -0.71%.

Aug 9 (Reuters) - The Dow and the S&P 500 were little changed, while the Nasdaq was firmly higher, propped up by the high-flying technology trio of Apple, Amazon and Microsoft.

The Nasdaq added 27.09 points, or 0.3 percent.

The Toronto Stock Exchange's S&P/TSX fell 90.47 points, or 0.55 per cent, to 16,326.51, led lower by the health care, consumer staples and utilities sectors.

The S&P 500 was just 1 percent shy of a record it hit on January 26 on Tuesday as an estimated 24 percent jump in earnings from S&P companies underscored the strength of the world's biggest economy and corporate sector. The Nasdaq also neared its all-time high.

"We seem to be able to put trade worries on the back burner and focus on second-quarter results, which have been significantly positive", said Art Hogan, chief market strategist at B. Riley FBR in NY. Shares of Norwegian Cruise Line rose more than 4 percent, but Booking Holdings fell after issuing a weak third-quarter profit forecast.

Spurs boss Pochettino reacts to Rose axing
Spurs boss Pochettino saluted his players for refusing to be distracted and called on supporters and the squad to stay together. The presence of Joselu in the line-up is often cited as evidence by the Toon Army that new strikers are needed around the club.

The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting that a strong economy was helping the labor market.

About 5.9 billion shares changed hands on US exchanges.

Sinclair dropped 2.9 percent after Tribune Media dropped its $3.9 billion deal to be acquired by Sinclair and filed a lawsuit against the company for breach of contract.

All the 11 major S&P sectors were trading in the red.

Leading sector declines was the S&P energy index.SPNY, which fell 0.9 percent. Shares of Apple rose 0.8 per cent, while those of Amazon were up 0.6 per cent.

Chip stocks fell after Morgan Stanley downgraded the USA semiconductor industry saying upside to estimates is hard to come by.

Declining issues outnumbered advancers for a 1.55-to-1 ratio on the NYSE and for a 1.20-to-1 ratio on the Nasdaq.


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