S&P, Dow flat after big banks' earnings

Chelsea West
July 15, 2017

Gains for big technology and health care companies drove the market higher.

The Dow Jones industrial average closed 84.65 points higher at 21,637.74, a record.

The tech sector (+0.3%) cruised to its fifth straight advance, as Apple shrugged off yesterday's underperformance to gain 1.4%.

The Nasdaq gained 38.03 (+0.61 percent) to close at 6,312.47, while the S&P 500 finished at 2,459.27, up 11.44 (+0.47 percent) from its open. The 30-stock index also notched an intraday record.

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Shares of Target climbed 4.8 percent after the company said it expects "modest increase" in second-quarter comparable-store sales, a metric closely watched by Wall Street for retail stocks.

Wells Fargo reported second-quarter diluted earnings per share of 1.

S&P 500 measures the performance of 500 widely held common stocks of large-cap US companies.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.36 percent. Small caps posted a weak session, with Russell 2000 futures ending only slightly below the break-even line.

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