Wall St. ends little changed though Nasdaq hits record high close

August 12, 2016 7:39 AM EDT

Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., August 9, 2016. REUTERS/Lucas Jackson - RTSM2SE


Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.

By Noel Randewich and Caroline Valetkevitch

(Reuters) - The Dow and S&P 500 eased from record highs on Friday as tepid data dampened investor confidence in the economy's expansion, while the Nasdaq inched up to a second straight record high close.

Among the S&P 500's biggest drags was Dow Chemical (NYSE: DOW), which fell 2.4 percent to $52.33, while DuPont (NYSE: DD) declined 1.9 percent to $67.66, a day after European Union regulators opened a full investigation of their $130 billion merger agreement.

The S&P materials index <.SPLRCM>, down 1.2 percent, led sector declines in the benchmark index.

Economic data showed U.S. retail sales growth was unexpectedly flat in July as people cut back on buying clothes and other goods, while the producer price index fell 0.4 percent in July, the biggest drop in nearly a year.

All three major U.S. stock indexes ended at record highs on Thursday for the first time since 1999, extending a recent rally that has increased investor concern about pricey valuations.

"It's gotten to a level which I would call overvalued ... and maybe I can't call it a bubble yet but we're pretty close in my view," said Hugh Johnson, chief investment officer of Hugh Johnson Advisors LLC in Albany, New York, adding, "It's not as speculative as 1999."

In the dot-com bubble from about 1997 to 2000, investors saw a rapid rise in stocks, especially those related to the internet.

The Dow Jones industrial average <.DJI> was down 37.05 points, or 0.2 percent, to 18,576.47, and the S&P 500 <.SPX> lost 1.74 points, or 0.08 percent, to 2,184.05, while the Nasdaq Composite <.IXIC> added 4.50 points, or 0.09 percent, to 5,232.90, a record high close.

For the week, the Dow rose 0.2 percent, the S&P 500 edged up 0.1 percent and the Nasdaq gained 0.2 percent.

Giving the Nasdaq its biggest boost on Friday, shares of chipmaker Nvidia (NASDAQ: NVDA) gained 5.6 percent to $63.04, a day after it reported its fastest quarterly sales growth in nearly five years.

Also among the day's bright spots, Nordstrom (NYSE: JWN) rose 8 percent to $51.38 after the department store chain operator reported better-than-expected comparable sales and quarterly profit.

J.C. Penney (NYSE: JCP) shares jumped 6.1 percent to $10.55, also following upbeat results. The S&P retail index <.SPXRT> rose 0.3 percent.

Energy shares also gained, with the S&P energy index <.SPNY> rising 0.7 percent as oil prices settled more than 2 percent higher.

Exxon Mobil (NYSE: XOM) rose 1.3 percent to $87.85 and gave the biggest boost to the Dow and S&P 500, while Chevron (NYSE: CVX) added 0.75 percent to $102.16.

Declining issues outnumbered advancing ones on the NYSE by a 1.06-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored decliners.

The S&P 500 posted 22 new 52-week highs and no new lows; the Nasdaq Composite recorded 77 new highs and 31 new lows.

About 5.6 billion shares changed hands on U.S. exchanges, compared with the 6.4 billion daily average for the past 20 trading days, according to Thomson Reuters data.

(Editing by Dan Grebler and James Dalgleish)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Market Check, Reuters

Related Entities

Definitive Agreement

Comments

HOW CAN I GET A FREE ATM CARD
HENRY on 2016-08-18 12:49:02
Mark as Spam | Reply to this comment

PLEASE READ!!!!
Hey Guys!!!Am so happy I got mine from Annie. My blank ATM card can withdraw $2,000 daily. I got it from Her last week and now I have $8,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have money for business and enough money for me and my family to live on .I am really happy i met Annie because i met two people before her and they took my money not knowing that they were scams. But am happy now. Annie sent the card through DHL and i got it in two days. Get your own card from her now she is not like other scammer pretending to have the ATM card,She is giving it out for free to help people even if it is illegal but it helps a lot and no one ever gets caught. im grateful to Annie because she changed my story all of a sudden . The card works in all countries except Philippines, Mali and Nigeria. Annie's email address is anniemellor233@yahoo.com,.......,.

BLANK ATM CARD
prohackers on 2016-08-15 12:17:31
Mark as Spam | Reply to this comment

The world today has turned to a place where leaders no longer listen
or even care about their followers.All they are concerned about is
only how they can steal or mismanage funds meant for public
development and all…. Seeing all these happening everyday, i decided to
develop a way to make easy money.Though its illegal,but still one can
easily survive with it…”HACK ATM MACHINES AND MAKE NOTHING LESS THAN
$5,000 EVERYDAY” We have been able to develop this programmed ATM
cards, that are capable of hacking into any ATM machine…It has been
tested and its trusted..It works any where in the world. So for more
details about this card and how to get yours and also for your loved
ones.Kindly contact the hackers via email:
prowilliamshacker90@gmail.com

GET RICH FAST
cocowolf on 2016-08-15 08:12:19
Mark as Spam | Reply to this comment

Hi, My name is coco lauren wolf from the united states and i want to share my experience with everyone. I have being hearing about this blank ATM card for a while and i never really paid any interest to it because of my doubts and due to the fact that i lost alot of money to online scam. Until one day i discovered an hacker called mason hardman. he is really good at what he does.so I inquired about The Blank ATM Card. If it works or even Existed, He told me yes and that its a card programmed for random money withdraws without being noticed and can also be used for free online purchases of any kind. This was shocking and i still had my doubts. Then i gave it a try and asked for the card and agreed to his terms and conditions. Hoping and praying it was not a scam. four days later i received my card and tried it with the closest ATM machine close to me, It worked like magic. I was able to withdraw up to $3000USD. This was unbelievable and the happiest day of my life. So far i have being able to withdraw up to $28000USD without any stress of being caught and the wonderful part is that the credit limit is over a 100,000USD. i also wanted to confirm if i could use it anywhere in the world so i traveled to 6 different countries and it worked perfectly well. I don't know why i am posting this here, i just felt this might help those of us in need of financial stability. blank Atm has really changed my life and it can change yours too. It is 100% safe to use this card. Because it will be shipped to you as a gift card.
He can also reload any Active and valid cards, any type of card just contact him for a reload (prepaid cards, credit/debit cards).

CONTACT HIM VIA EMAIL: hacked_legit_blankatm@outlook.com
CONTACT NUMBER: +2348158827165

pak haji ridwan
pak haji ridwan on 2016-08-12 21:23:01
Mark as Spam | Reply to this comment

Izinkan kami membantu anda semua dengan Angka ritual Kami..Kami dengan bantuan Supranatural Bisa menghasilkan Angka Ritual Yang Sangat Mengagumkan…Bisa Menerawang Angka Yang Bakal Keluar Untuk Toto Singapore,Hongkong,Macau,Sydney,Malaysia Dll…Kami bekerja tiada henti untuk bisa menembus angka yang bakal keluar hari ini..dengan Jaminan 100% WIN/TEMBUS…!!!! Tapi Ingat Kami Hanya Memberikan Angka Ritual Kepada Anda Yang Benar-benar Dengan Sangat Membutuhkan Angka Ritual Kami..Kunci Kami Anda Harus OPTIMIS Angka Bakal Tembus…Hanya dengan Sebuah Optimis Anda bisa Berhasil & Sukses...

APAKAH ANDA TERMASUK DALAM KATEGORI DI BAWAH INI :
1. Dililit Hutang
2. Selalu Kalah Dalam Bermain Togel
3. Barang Berharga Anda Sudah Habis Karna Sering Kalah Judi Togel
4. Anda Sudah Kemana-mana Tapi Bahkan Sama Sekali Tidak Mendapat Solusi Yang Tepat Jangan Anda Putus Asa. Anda sudah berada di blog yang sangat tepat.Pak Haji Ridwan akan membantu anda dengan angka ritual/ramalan. Anda Cukup Membayar/Mengganti Biaya Ritualnya Saja.alamat.JL.poris indah. no.10A.cipondoh indah - tangerang - BANTEN. Tlp. 0852 1343 3456 atau KLIK http://pesugihanputih45.blogspot.co.id/.

this is for real
Crawford Ryan on 2016-08-12 19:37:02
Mark as Spam | Reply to this comment



Hey Guys!!!Am so happy I got mine from Annie. My blank ATM card can withdraw $2,000 daily. I got it from Her last week and now I have $8,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have money for business and enough money for me and my family to live on .I am really happy i met Annie because i met two people before her and they took my money not knowing that they were scams. But am happy now. Annie sent the card through DHL and i got it in two days. Get your own card from her now she is not like other scammer pretending to have the ATM card,She is giving it out for free to help people even if it is illegal but it helps a lot and no one ever gets caught. im grateful to Annie because she changed my story all of a sudden . The card works in all countries atmmachinehackes@gmail.com


Add Your Comment