US open: S&P 500 falls from record high
By Iain Gilbert
Date: Wednesday 19 Feb 2025
(Sharecast News) - Major indices were in the red early on Wednesday, knocking the S&P 500 off its fresh record high.
As of 1540 GMT, the Dow Jones Industrial was down 0.28% at 44,429.99, while the S&P 500 lost 0.23% at 6,115.63 and the Nasdaq Composite came out the gate 0.42% firmer at 19,957.09.
The Dow opened 126.35 points lower on Wednesday, more than erasing gains recorded in the previous session.
Concerns regarding sticky inflation and Donald Trump's trade policies remained in focus early on Wednesday after the president floated the idea of imposing a 25% tariff on automotive, semiconductor and pharmaceutical imports into the US.
On the macro front, mortgage applications fell 6.6% in the week ended 14 February, according to the Mortgage Bankers Association of America, reversing the two prior weeks' increases and marking the sharpest decline so far this year despite another week of softening in benchmark interest rates. Applications to refinance a mortgage sank by 7%, while applications to purchase a new home fell by 6%.
Elsewhere, construction starts on privately owned housing in the United States sank sharply in January, according to the Census Bureau. Housing starts came in at a seasonally adjusted annual rate of 1.37m, down 9.8% from the 10-month high of 1.52m registered in December after a 16% surge that month and below the 1.4m expected by analysts, and just under the 1.38m level seen in January 2024. Building permits, on the other hand, rose 0.1% over the month to 1.48m, ahead of the 1.46m consensus forecast.
Still to come, minutes from the Federal Open Markets Committee's latest policy meeting were slated for release at 1900 GMT.
In the corporate space, shares in online dating firm Bumble were down double digits after issuing disappointing Q1 guidance, while Arista Networks shares also traded lower despite quarterly earnings and revenue topping Wall Street expectations.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Walgreens Boots Alliance, Inc. (WBA) $10.93 10.08%
Intel Corp. (INTC) $26.09 2.88%
Walt Disney Co. (DIS) $111.21 1.51%
Travelers Company Inc. (TRV) $241.65 1.36%
Amgen Inc. (AMGN) $295.97 1.28%
Johnson & Johnson (JNJ) $156.72 1.11%
Merck & Co. Inc. (MRK) $84.18 1.07%
Chevron Corp. (CVX) $157.75 1.02%
Boeing Co. (BA) $186.38 0.76%
Verizon Communications Inc. (VZ) $41.51 0.75%
Dow Jones - Fallers
McDonald's Corp. (MCD) $299.90 -1.62%
Home Depot Inc. (HD) $396.95 -1.58%
Cisco Systems Inc. (CSCO) $64.63 -1.51%
American Express Co. (AXP) $308.39 -1.43%
Salesforce.Com Inc. (CRM) $324.48 -1.36%
Dow Chemical Co. (DOW) $39.29 -1.08%
Goldman Sachs Group Inc. (GS) $666.28 -0.88%
International Business Machines Corporation (CDI) (IBM) $261.01 -0.78%
JP Morgan Chase & Co. (JPM) $278.89 -0.38%
Caterpillar Inc. (CAT) $352.98 -0.29%
S&P 500 - Risers
Devon Energy Corp. (DVN) $38.53 10.46%
Walgreens Boots Alliance, Inc. (WBA) $10.93 10.08%
Occidental Petroleum Corp. (OXY) $52.13 6.74%
Analog Devices Inc. (ADI) $230.20 5.33%
Microchip Technology Inc. (MCHP) $59.78 4.97%
Monster Beverage Corp (MNST) $51.69 4.50%
Comcast Corp. (CMCSA) $36.72 4.35%
Texas Instruments Inc (TXN) $190.52 3.32%
Coterra Energy Inc. (CTRA) $28.75 3.08%
Dollar Tree Inc (DLTR) $75.18 3.06%
S&P 500 - Fallers
Celanese Corp. (CE) $55.80 -20.18%
Cadence Design Systems Inc. (CDNS) $272.73 -8.48%
Arista Networks Inc. (ANET) $102.05 -8.11%
Flowserve Corp. (FLS) $58.72 -6.95%
Meta Platforms Inc. (META) $696.22 -5.08%
Synopsys Inc. (SNPS) $505.31 -4.15%
Jefferies Financial Group Inc. (JEF) $69.29 -3.67%
Norwegian Cruise Line Holdings Ltd (NCLH) $26.26 -3.44%
International Flavors & Fragrances Inc. (IFF) $83.61 -3.29%
Carmax Inc. (KMX) $86.42 -3.11%
Nasdaq 100 - Risers
Walgreens Boots Alliance, Inc. (WBA) $10.93 10.08%
Analog Devices Inc. (ADI) $230.20 5.33%
Microchip Technology Inc. (MCHP) $59.78 4.97%
Monster Beverage Corp (MNST) $51.69 4.50%
Comcast Corp. (CMCSA) $36.72 4.35%
Texas Instruments Inc (TXN) $190.52 3.32%
Tesla Inc (TSLA) $364.32 3.07%
Dollar Tree Inc (DLTR) $75.18 3.06%
Intel Corp. (INTC) $26.09 2.88%
Charter Communications Inc. (CHTR) $364.94 2.73%
Nasdaq 100 - Fallers
Cadence Design Systems Inc. (CDNS) $272.73 -8.48%
Sirius XM Holdings Inc (SIRI) $25.55 -6.14%
Meta Platforms Inc. (META) $696.22 -5.08%
Qurate Retail Inc. (QRTEA) $0.36 -4.36%
Synopsys Inc. (SNPS) $505.31 -4.15%
Nvidia Corp. (NVDA) $138.52 -3.03%
Liberty Global plc Series A (LBTYA) $10.82 -2.87%
Baidu Inc. (BIDU) $88.34 -2.73%
Liberty Global plc Series C (LBTYK) $11.18 -2.36%
Netflix Inc. (NFLX) $1,029.36 -2.31%
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