United States stocks close slightly higher, Nasdaq hits new record
Oct 14 2017 by Johnny Bowman
For the week to Thursday the S&P 500 is up 1.60 points, or 0.1% and t he Dow is up 67.34 points, or 0.3%.
JPMorgan Chase and Citigroup both did better than analysts expected in the third quarter, but their stocks fell and so did shares of other banks. The stock traded 0.2 percent higher as of 9:12 a.m.in NY.
Apple (AAPL.O), up 0.6 percent, gave the S&P 500 its biggest boost, while the S&P technology index.SPLRCT was up 0.5 percent.
Gains in Wal-Mart and Johnson & Johnson nudged the Dow Jones Industrial Average to another record level on Wednesday, but the broader market was sluggish ahead of big bank earnings.
Meanwhile, shares of Equifax declined 1.53 percent after the company said it is investigating another possible cyberbreach. The Nasdaq composite rose 16.30 points, or 0.2%, to 6,603.55.
On the economic front, the Labor Department said its producer price index for final demand increased 0.4 percent last month after rising 0.2 percent in August. The Russell 2000 index of smaller-company stocks edged down 1.08 points, or 0.1%, to 1,506.92. In individual stocks, Bank of America and Wells Fargo & Co. reported third-quarter earnings today, with B. of A. registering some gains and Shares of Wells Fargo declined on its weaker-than-expected numbers.
The Dow Jones industrial average slid 31.88 points, or 0.1 percent, to 22,841.01. The Dow Jones Small-Cap Value TSM Index closed at 10,069.27 for a loss of 4.22 points or 0.04%.