Markets

Close Update: S&P 500, Dow Retreat Into Close But Nasdaq Clings to 8th Day of Gains

Wall Street gave back its advance late in the session as the Dow Jones Industrial Average and the S&P 500 pushed further into the red amid losses in energy and financials, while the Nasdaq Composite hung on for its eighth straight day of gains.

The tech-heavy Nasdaq was propped up by a move to a record high in key component Amazon.com ( AMZN ), while Netflix ( NFLX ), Apple ( AAPL ) and Alphabet ( GOOGL ) also pushed higher. Among the FAANG names, only Facebook ( FB ) weakened.

MercadoLibre (MELI) surged in one of the Nasdaq's best performances after revenue beat analysts' expectations. Yelp (YELP) popped 27% and Roku (ROKU) rallied 21% after their upbeat earnings reports.

Still, the Nasdaq faltered under weakness in Tesla (TSLA) after reports about a regulatory probe into the electric carmaker wiped off most of the week's earlier gains and the stock ended down 4.8%.

The S&P's sectors were mixed with the benchmark nudging lower for a second day after finding resistance at its January record high level. Volumes were well below the norm as earnings season wound up.

Energy fell 0.9% in the steepest decline among the S&P's components as oil futures slipped. Financials and industrials both shed about 0.6%, and those names were among the sharpest decliners on the Dow, which was also down for a second day. On the upside, telecoms pared some gains but still closed about 1% higher.

Here's where the markets stood by the close:

US MARKETS

Dow Jones Industrial Average was down 74.52 points (-0.29%)

S&P 500 was down 4.12 points (-0.14%)

Nasdaq Composite Index was up 3.46 points (+0.04%)

GLOBAL SENTIMENT

FTSE 100 was up 0.45%

Nikkei 225 was down 0.2%

Hang Seng Index was up 0.88%

Shanghai China Composite Index was up 1.85%

UPSIDE MOVERS

(+) CTXR (+48.25%) Priced $10 million shares at $1.275

(+) BEL (+35.2%) Reported mixed results, announced review of strategic alternatives to boost shareholder value

(+) YELP (+26.65%) Reported better-than-expected results, lifted FY guidance

(+) ROKU (+21.31%) Tops Q2 expectations

(+) AYX (+15.75%) FY18 revenue, loss guidance lifted after quarterly beat

(+) SESN (+12.34%) Secures FDA Fast Track approval of lead candidate Vicinium

(+) SRPT (+9.87%) RBC says co. "set up well for the long-term" despite mixed Q2

DOWNSIDE MOVERS

(-) ELF (-33.9%) Lowered FY18 guidance

(-) IPAS (-29.28%) Missed Q2 EPS estimates

(-) LJPC (-25.39%) Reported a wider-than-expected loss for Q2

(-) AMPE (-21.98%) Announced stock offering

(-) ADT (-10.65%) Narrows Q2 loss but Wall Street expected profit

(-) OUT (-9.45%) AFFO, revenue lag analysts' expectations

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

NFLX AMZN FB GOOGL AAPL

Other Topics

Stocks

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More