US close: Major indices extend gains as Q2 earnings season carries on
Wall Street stocks closed higher on Wednesday as market participants remained firmly focussed on corporate earnings.
At the close, the Dow Jones Industrial Average was up 0.15% at 31,874.84, while the S&P 500 was 0.59% firmer at 3,959.90 and the Nasdaq Composite saw out the session 1.58% higher at 11,897.65.
The Dow closed 47.79 points higher on Wednesday, extending gains recorded in the previous session.
Earnings were again in focus on Wednesday, with streaming giant Netflix reporting subscriber numbers had continued to fall in the second quarter, losing around 1.0m subscribers during the three months ended 30 June, below the 2.0m it had forecast,
Oilfield services company Baker Hughes reported Q2 revenues and earnings per share that missed analysts' expectations, Biogen posted adjusted profits of $5.25 per share for the second quarter, well above consensus estimates of $4.06, and healthcare group Abbott Laboratories raised full-year earnings guidance after posting an earnings beat.
On the macro front, US mortgage applications fell 6.3% in the week ended 15 July, a third consecutive drop and the lowest level since 2000, according to the Mortgage Bankers Association. The drop in the overall index came as a result of a 7.3% decline in the applications index and a 4.3% decrease in the refinancing index.
Elsewhere, the National Association of Realtors revealed US existing home sales dropped 5.4% in June to a seasonally adjusted annual rate of 5.12m, well below forecasts for a reading of 5.38m and the lowest reading seen since June 2020.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Salesforce.Com Inc. (CRM) $182.45 4.97%
Walt Disney Co. (DIS) $103.35 3.75%
Nike Inc. (NKE) $111.11 1.76%
Boeing Co. (BA) $158.38 1.44%
Apple Inc. (AAPL) $153.04 1.35%
Chevron Corp. (CVX) $146.52 1.32%
Goldman Sachs Group Inc. (GS) $321.45 1.07%
Microsoft Corp. (MSFT) $262.27 1.06%
Intel Corp. (INTC) $40.56 0.85%
Walmart Inc. (WMT) $130.64 0.83%
Dow Jones - Fallers
Merck & Co. Inc. (MRK) $89.65 -2.93%
Verizon Communications Inc. (VZ) $49.07 -2.74%
Unitedhealth Group Inc. (UNH) $519.47 -2.62%
Procter & Gamble Co. (PG) $141.55 -1.73%
Coca-Cola Co. (KO) $61.50 -1.65%
International Business Machines Corporation (CDI) (IBM) $129.18 -1.30%
McDonald's Corp. (MCD) $254.58 -0.75%
Johnson & Johnson (JNJ) $170.71 -0.57%
Amgen Inc. (AMGN) $246.55 -0.31%
Visa Inc. (V) $213.37 -0.14%
S&P 500 - Risers
Netflix Inc. (NFLX) $216.44 7.35%
Royal Caribbean Cr (RCL) $38.96 7.15%
Carnival Corp. (CCL) $11.09 7.05%
Nektar Therapeutics (NKTR) $4.02 6.91%
Autodesk Inc. (ADSK) $196.38 6.29%
Nasdaq Inc (NDAQ) $169.04 6.10%
Dish Network Corp. (DISH) $19.25 5.65%
Nordstrom Inc. (JWN) $23.09 5.43%
Salesforce.Com Inc. (CRM) $182.45 4.97%
Nvidia Corp. (NVDA) $178.07 4.80%
S&P 500 - Fallers
Elevance Health Inc. (ELV) $459.54 -7.62%
Biogen Inc (BIIB) $207.49 -5.80%
Newmont Corporation (NEM) $52.31 -4.28%
Northern Trust Corp. (NTRS) $97.18 -3.99%
AES Corp. (AES) $19.98 -3.10%
Wisconsin Energy Corp. (WEC) $96.13 -2.97%
Merck & Co. Inc. (MRK) $89.65 -2.93%
American Tower Corp (Reit) (AMT) $249.74 -2.89%
CIGNA Corp. (CI) $266.72 -2.87%
Verizon Communications Inc. (VZ) $49.07 -2.74%
Nasdaq 100 - Risers
Mercadolibre Inc. (MELI) $779.68 7.58%
Netflix Inc. (NFLX) $216.44 7.35%
Qurate Retail Inc. (QRTEA) $2.74 6.61%
Autodesk Inc. (ADSK) $196.38 6.29%
Dish Network Corp. (DISH) $19.25 5.65%
Nvidia Corp. (NVDA) $178.07 4.80%
NetEase Inc. Ads (NTES) $94.19 4.46%
Meta Platforms Inc. (META) $183.09 4.16%
Intuit Inc. (INTU) $420.45 4.11%
Applied Materials Inc. (AMAT) $102.23 4.07%
Nasdaq 100 - Fallers
Biogen Inc (BIIB) $207.49 -5.80%
Vodafone Group Plc ADS (VOD) $15.39 -2.41%
Vertex Pharmaceuticals Inc. (VRTX) $285.50 -1.42%
Biomarin Pharmaceutical Inc. (BMRN) $84.91 -1.37%
Automatic Data Processing Inc. (ADP) $216.05 -1.32%
Kraft Heinz Co. (KHC) $38.26 -1.24%
Baidu Inc. (BIDU) $140.82 -1.10%
Gilead Sciences Inc. (GILD) $61.55 -0.92%
Trip.com Group Limited (TCOM) $26.52 -0.82%
J.B. Hunt Transport Services Inc. (JBHT) $173.13 -0.76%