USA stocks close mixed ahead of earnings reports

Chelsea West
July 19, 2017

U.S. market is keeping a close eye on the quarterly earnings given the stock market's latest record run.

Equities paused in a quiet session after both the Dow and S&P 500 finished at records on Friday following solid earnings from JPMorgan Chase and other large banks. The benchmark 10-year note yield slipped to 2.28 percent, while the two-year yield hovered around 1.35 percent.

FedEx fell 1.6% after the company said shipping volumes for its TNT Express business are down and customers are still experiencing delays after the business was hit by a cyberattack in late June.

Financial giant Goldman Sachs, health care products maker Johnson & Johnson and health insurer UnitedHealth will report their second-quarter results early Tuesday.

"A$3 bulk of funds will come in as we see clarity on [the] healthcare bill". The S&P 500 Index gained 1.47 points, or 0.06%, to 2460.61.

In economic news, import prices fell 0.2 percent last month, as expected.

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The blue-chip index fell 54.99 points, or 0.3%, to close at 21,574.73.

Wall Street closed little changed on Monday as smaller firms and retailers rose while health care companies and banks declined, with earnings news filtering out winners and losers across the board.

Harley-Davidson slumped 9.5 percent after the motorcycle maker cut its 2017 shipments forecast.

The Nasdaq (+0.5%) advanced to a new record high as tech stocks continued their bullish run, while the S&P 500 also eked out a new record high while the Dow underperformed but settled at its best level of the day.

Declining issues outnumbered advancers on the NYSE by 1,728 to 1,008.

Other reports by TheSundaySentinel

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