US close: Markets finish higher after choppy session
By Josh White
Date: Monday 15 Jul 2019
(Sharecast News) - Stocks on Wall Street finished in the green on Monday, having surged to new highs during the previous week after Federal Reserve chairman Jerome Powell hinted that an interest rate cut could be on the horizon.
The Dow Jones Industrial Average ended the session up 0.1% at 27,359.16, the S&P 500 added 0.02% to 3,014.30, and the Nasdaq 100 was ahead 0.3% at 7,966.93.
At the open, the Dow was just 7.47 points firmer, dipping in and out of the red after closing above 27,000 for the first time on Thursday, and with Friday's gain bringing its advance for the week to 1.5%.
Market participants had an eye firmly fixed on developments in Washington's ongoing trade war with Beijing after Reuters revealed on Sunday that the US was looking to push through the approval of licenses to allow companies to start trading with Chinese telecommunications giant Huawei within two to four weeks.
Figures released out of China overnight showed that economic growth in the Asian giant slowed to a year-on-year pace of 6.2% during the second quarter, the slowest clip since 1992.
Investors were also digesting news that Iranian president Hassan Rouhani stated that Tehran is ready to hold talks with the White House if Washington lifts sanctions against it and returns to the 2015 nuclear deal.
Elsewhere, according to NBC News, Donald Trump has told aides that he was contemplating removing Commerce Secretary Wilbur Ross after he backed down from adding a contentious question on citizenship to the 2020 census.
In economic news, factory sector activity in the New York area picked up a tad more quickly than expected in July, following a sharp drop during the previous month, according to the results of a closely-followed survey.
The Federal Reserve Bank of New York's manufacturing sector index improved from a reading of -8.6 for the month of June to 4.3 in July, beating economists' forecasts for a reading of 2.0.
Between May June, the index had fallen from 17.8 to -8.6.
On the corporate front, Callon Petroleum Company shares plunged 15.94% after announcing it would acquire Carrizo Oil and Gas in an all stock deal, while OrganiGram shares jumped 4.21% despite the company swinging to a loss.
Citigroup stock closed 0.08% softer despite topping analysts' expectations, while Symantec shares dived 10.68% after CNBC revealed the group had abandoned negotiations with Broadcom.
Dow Jones - Risers
Merck & Co. Inc. (MRK) $80.95 1.53%
Apple Inc. (AAPL) $205.21 0.94%
Travelers Company Inc. (TRV) $154.83 0.94%
Caterpillar Inc. (CAT) $139.64 0.93%
Pfizer Inc. (PFE) $42.76 0.85%
Verizon Communications Inc. (VZ) $57.59 0.70%
McDonald's Corp. (MCD) $214.18 0.57%
American Express Co. (AXP) $128.57 0.48%
Procter & Gamble Co. (PG) $115.47 0.42%
Nike Inc. (NKE) $89.48 0.40%
Dow Jones - Fallers
JP Morgan Chase & Co. (JPM) $113.90 -1.21%
Goldman Sachs Group Inc. (GS) $211.58 -1.10%
Boeing Co. (BA) $361.61 -1.02%
Exxon Mobil Corp. (XOM) $77.08 -0.71%
United Technologies Corp. (UTX) $133.23 -0.37%
3M Co. (MMM) $172.83 -0.29%
Chevron Corp. (CVX) $125.72 -0.21%
Dowdupont Inc. (DWDP) $30.52 0.00%
Microsoft Corp. (MSFT) $138.90 0.00%
Coca-Cola Co. (KO) $52.13 0.02%
S&P 500 - Risers
CF Industries Holdings Inc. (CF) $47.88 3.70%
Advanced Micro Devices Inc. (AMD) $34.39 3.55%
Wynn Resorts Ltd. (WYNN) $137.77 2.90%
Gilead Sciences Inc. (GILD) $68.07 2.73%
Royal Caribbean Cr (RCL) $112.84 2.45%
Twitter Inc (TWTR) $38.69 2.25%
Regeneron Pharmaceuticals Inc. (REGN) $298.20 1.93%
Alexion Pharmaceuticals Inc. (ALXN) $123.04 1.84%
Incyte Corp. (INCY) $81.39 1.61%
Mosaic Company (MOS) $23.37 1.61%
S&P 500 - Fallers
Symantec Corp. (SYMC) $22.84 -10.68%
Cimarex Energy Co (XEC) $53.40 -4.46%
Noble Energy Inc. (NBL) $21.76 -4.31%
Diamondback Energy Inc. (FANG) $106.41 -3.99%
Ipg Photonics Corp. (IPGP) $135.10 -3.96%
Devon Energy Corp. (DVN) $27.65 -3.49%
Marathon Oil Corp. (MRO) $13.47 -3.23%
Concho Resouces Inc. (CXO) $99.05 -3.07%
Westrock Company (WRK) $35.85 -2.98%
Pioneer Natural Resources Co. (PXD) $140.69 -2.49%
Nasdaq 100 - Risers
Tesla Inc (TSLA) $253.50 3.44%
Wynn Resorts Ltd. (WYNN) $137.77 2.90%
Gilead Sciences Inc. (GILD) $68.07 2.73%
Qurate Retail Inc. (QRTEA) $12.93 2.38%
Regeneron Pharmaceuticals Inc. (REGN) $298.20 1.93%
Alexion Pharmaceuticals Inc. (ALXN) $123.04 1.84%
Incyte Corp. (INCY) $81.39 1.61%
Seagate Technology Plc (STX) $48.34 1.51%
Texas Instruments Inc (TXN) $119.84 1.28%
Skyworks Solutions Inc. (SWKS) $82.04 1.27%
Nasdaq 100 - Fallers
Symantec Corp. (SYMC) $22.84 -10.68%
Liberty Global plc Series A (LBTYA) $26.49 -2.50%
Liberty Global plc Series C (LBTYK) $25.88 -2.49%
Workday, Inc. (WDAY) $218.00 -1.88%
Netflix Inc. (NFLX) $366.60 -1.78%
NetEase Inc. Ads (NTES) $256.24 -1.40%
Mylan Inc. (MYL) $18.97 -1.30%
Western Digital Corp. (WDC) $54.64 -1.19%
Vodafone Group Plc ADS (VOD) $16.31 -1.09%
Check Point Software Technologies Ltd. (CHKP) $117.63 -0.98%
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