US close: Dow gives up early gains
By Iain Gilbert
Date: Friday 10 Feb 2023
(Sharecast News) - Wall Street stocks were firmly in the red at the close of trading on Thursday, extending heavy losses recorded in the previous session.
At the close, the Dow Jones Industrial Average was down 0.73% at 33,699.88, while the S&P 500 lost 0.88% to 4,081.50 and the Nasdaq Composite saw out the session 1.02% weaker at 11,789.58.
The Dow closed 249.13 points lower on Thursday, a roughly 500 point turn around from early gains, to extend Wednesday's losses.
Thursday's primary focus was, as almost always, on the Labor Department's jobless claims report, which revealed Americans lined up for unemployment benefits at an accelerated clip in the seven days ended 4 February.
Initial jobless claims rose by 13,000 week-on-week to 196,000, up from the prior week's nine-month low of 183,000 and above economists expectations for a reading of 190,000. Continuing claims printed at 1.68m, up 38,000 week-on-week, while the four-week moving average for initial claims, which aims to strip out week-to-week volatility, declined from 191,750 a week earlier to 189,250.
Also drawing an amount of investor attention, Disney shares traded higher after the entertainment giant posted smaller-than-expected subscriber losses, as well as quarterly earnings and revenues that beat estimates, and announced plans to cut jobs in an effort to lower overheads.
Earnings from Hilton, Kellogg and Ralph Lauren all beat estimates thanks to revenues topping forecasts, Philip Morris missed earnings projections by just $0.01, even as revenues topped expectations, and PepsiCo posted a rise in quarterly profits and hiked its annual dividend but sales indicated that consumers may soon feel the pinch of higher prices.
PayPal reported a quarterly earnings beat after the close of trading.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Salesforce.Com Inc. (CRM) $173.66 2.38%
Walmart Inc. (WMT) $141.52 0.93%
Unitedhealth Group Inc. (UNH) $485.73 0.52%
American Express Co. (AXP) $179.49 0.21%
Merck & Co. Inc. (MRK) $106.72 0.08%
Dowdupont Inc. (DWDP) $0.00 0.00%
Amgen Inc. (AMGN) $240.00 -0.08%
Coca-Cola Co. (KO) $59.62 -0.17%
Visa Inc. (V) $229.35 -0.37%
Cisco Systems Inc. (CSCO) $46.73 -0.49%
Dow Jones - Fallers
Walgreens Boots Alliance, Inc. (WBA) $35.82 -2.05%
3M Co. (MMM) $112.93 -2.01%
Goldman Sachs Group Inc. (GS) $367.92 -1.90%
Intel Corp. (INTC) $27.73 -1.81%
Verizon Communications Inc. (VZ) $39.81 -1.75%
International Business Machines Corporation (CDI) (IBM) $133.75 -1.64%
Home Depot Inc. (HD) $315.06 -1.63%
JP Morgan Chase & Co. (JPM) $140.27 -1.56%
Johnson & Johnson (JNJ) $161.35 -1.35%
Walt Disney Co. (DIS) $110.36 -1.27%
S&P 500 - Risers
MGM Resorts International (MGM) $44.10 6.44%
Everest Re Group Ltd. (RE) $378.46 5.98%
Wynn Resorts Ltd. (WYNN) $108.59 4.80%
O'Reilly Automotive Inc. (ORLY) $817.00 3.76%
Tapestry Inc. (TPR) $44.71 3.47%
CBRE Group Inc (CBRE) $87.51 3.41%
Dxc Technology Company (DXC) $29.20 3.26%
Activision Blizzard Inc. (ATVI) $75.26 3.25%
CF Industries Holdings Inc. (CF) $86.53 3.19%
Borg Warner Inc. (BWA) $47.79 2.83%
S&P 500 - Fallers
International Flavors & Fragrances Inc. (IFF) $91.27 -18.75%
Baxter International Inc. (BAX) $40.24 -12.13%
Mattel Inc. (MAT) $18.31 -10.68%
VF Corp. (VFC) $26.03 -8.47%
Helmerich & Payne Inc. (HP) $43.00 -7.36%
Willis Towers Watson Public Limited Company (WTW) $238.97 -7.06%
Sealed Air Corp. (SEE) $50.04 -6.55%
Equifax Inc. (EFX) $206.79 -6.12%
Alphabet Inc. Class C (GOOG) $95.46 -4.54%
Alphabet Inc. Class A (GOOGL) $95.01 -4.39%
Nasdaq 100 - Risers
Wynn Resorts Ltd. (WYNN) $108.59 4.80%
O'Reilly Automotive Inc. (ORLY) $817.00 3.76%
Activision Blizzard Inc. (ATVI) $75.26 3.25%
Tesla Inc (TSLA) $207.32 3.00%
Trip.com Group Limited (TCOM) $37.69 1.65%
Autodesk Inc. (ADSK) $224.65 1.50%
PACCAR Inc. (PCAR) $73.01 1.47%
Skyworks Solutions Inc. (SWKS) $120.87 0.97%
NetEase Inc. Ads (NTES) $89.20 0.95%
Incyte Corp. (INCY) $81.21 0.92%
Nasdaq 100 - Fallers
Alphabet Inc. Class C (GOOG) $95.46 -4.54%
Sirius XM Holdings Inc (SIRI) $4.78 -4.40%
Alphabet Inc. Class A (GOOGL) $95.01 -4.39%
Hasbro Inc (HAS) $56.83 -4.28%
Align Technology Inc. (ALGN) $321.38 -4.02%
Hologic Inc. (HOLX) $82.44 -3.70%
DENTSPLY Sirona Inc. (XRAY) $36.61 -3.66%
Dish Network Corp. (DISH) $13.46 -3.37%
J.B. Hunt Transport Services Inc. (JBHT) $191.31 -3.25%
Meta Platforms Inc. (META) $177.92 -3.00%
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN