US close: Stocks finish higher as traders weigh earnings, trade data
US stocks pared earlier gains on Tuesday after the Dow and the Nasdaq reached intraday records as investors weighed a slew of corporate earnings and trade data.
The Dow Jones Industrial Average closed up 0.19% to 20,090.29 points after climbing to an intraday record of 20,155.35 earlier in the session.
The Nasdaq was 0.19% higher to 5,647.22 points at the closing bell after hitting an intraday all-time high of 5,689.60 earlier.
The S&P 500 index finished with a slight increase of 0.02% to 2,293.08 points.
Among corporate earnings, Michael Kors Holdings was on the back foot after luxury fashion label reported third-quarter revenue and fourth-quarter guidance which both missed analysts’ expectations.
General Motors edged lower even as it posted fourth quarter earnings and revenue that exceeded forecast.
Walt Disney Co. slumped after reporting fiscal first quarter profit ahead of forecasts but a decline in revenue.
Urban Outfitters shares slid in after-hours trading after the retail company revealed fourth-quarter sales and same-store sales that fell short of estimates.
One the upside, TransDigm Group gained after posting quarterly earnings that beat analysts’ projections.
Centene Corp. advanced after revealing its acquisition of Health Net bolstered its quarterly results.
On the economic data front, the US trade deficit reached the highest level in four years in 2016 as exports fell more than imports.
The deficit increased 0.4% to $502.3bn, the Commerce Department revealed.
In December the trade deficit shrank 3.2% to $44.3bn, compared to economists’ forecasts of $45bn.
Meanwhile, job openings in December were little changed while hires continued to rise, according to the Labor Department’s Job Openings and Labor Turnover Survey report.
There were 5.5 million job openings on the last day of December, broadly unchanged from November. However, there were 5.3 million people hired during the month, compared to 5.2 million the previous month.
Elsewhere, traders continued to digest remarks from Federal Reserve Bank of Philadelphia President Patrick Harker who on Monday suggested an interest rate increase could come sooner than anticipated.
The policymaker said in a speech that March was “on the table” for a possible interest rate hike, depending on the economic data that comes out between now and then.
Harker pointed to last week’s strong non-farm payrolls report and continued good news surrounding GDP growth.
His comments sent the dollar higher against many other major currencies, rising 0.56% versus the yen and 0.68% against the euro. The greenback fell 0.31% against the pound, reversing gains from earlier in the session.
Dow Jones - Risers
Boeing Co. (BA) $166.50 1.54%
International Business Machines Corp. (IBM) $178.46 1.48%
Apple Inc. (AAPL) $131.53 0.95%
Coca-Cola Co. (KO) $41.88 0.82%
Wal-Mart Stores Inc. (WMT) $66.89 0.74%
Procter & Gamble Co. (PG) $88.01 0.70%
United Technologies Corp. (UTX) $111.25 0.51%
Cisco Systems Inc. (CSCO) $31.45 0.48%
Caterpillar Inc. (CAT) $93.31 0.47%
3M Co. (MMM) $175.75 0.38%
Dow Jones - Fallers
Chevron Corp. (CVX) $111.38 -1.41%
Merck & Co. Inc. (MRK) $64.20 -1.14%
Exxon Mobil Corp. (XOM) $82.77 -0.65%
Walt Disney Co. (DIS) $109.00 -0.52%
Pfizer Inc. (PFE) $32.08 -0.47%
General Electric Co. (GE) $29.56 -0.34%
Microsoft Corp. (MSFT) $63.43 -0.33%
E.I. du Pont de Nemours and Co. (DD) $76.06 -0.29%
Goldman Sachs Group Inc. (GS) $239.62 -0.15%
American Express Co. (AXP) $77.72 -0.13%
S&P 500 - Risers
Centene Corp. (CNC) $67.00 5.30%
National Oilwell Varco Inc. (NOV) $39.29 4.89%
Emerson Electric Co. (EMR) $62.54 4.48%
Church Dwight Co Inc. (CHD) $47.27 4.00%
Newell Brands Inc (NWL) $45.52 2.92%
Flowserve Corp. (FLS) $49.60 2.54%
Intercontinental Exchange Inc (ICE) $59.94 2.43%
Tyson Foods Inc. (TSN) $64.64 2.41%
Cardinal Health Inc. (CAH) $77.76 2.36%
Tesoro Corp. (TSO) $85.19 2.21%
S&P 500 - Fallers
FMC Corp. (FMC) $57.03 -6.00%
Motorola Solutions Inc (MSI) $77.34 -5.37%
Vulcan Materials Co. (VMC) $121.80 -4.90%
Newfield Exploration Co (NFX) $39.00 -4.15%
Endo International Plc (ENDP) $12.01 -4.15%
Murphy Oil Corp. (MUR) $27.95 -3.92%
Omnicom Group Inc. (OMC) $84.31 -3.58%
Pioneer Natural Resources Co. (PXD) $174.95 -3.39%
PVH Corp. (PVH) $85.43 -3.34%
Chesapeake Energy Corp. (CHK) $6.17 -3.29%
Nasdaq 100 - Risers
Shire Plc Ads (SHPG) $170.41 2.15%
Netflix Inc. (NFLX) $144.00 2.15%
Autodesk Inc. (ADSK) $84.50 2.03%
Akamai Technologies Inc. (AKAM) $71.12 2.02%
Cognizant Technology Solutions Corp. (CTSH) $53.79 1.95%
Citrix Systems Inc. (CTXS) $77.65 1.77%
Nvidia Corp. (NVDA) $119.13 1.55%
T-Mobile Us, Inc. (TMUS) $61.89 1.53%
O'Reilly Automotive Inc. (ORLY) $262.19 1.47%
Seagate Technology Plc (STX) $46.10 1.45%
Nasdaq 100 - Fallers
Twenty-First Century Fox Inc Class A (FOXA) $30.48 -1.87%
Twenty-First Century Fox Inc Class B (FOX) $30.16 -1.82%
Liberty Global plc Series A (LBTYA) $35.54 -1.63%
Mylan Inc. (MYL) $39.39 -1.48%
Liberty Global plc Series C (LBTYK) $34.40 -1.35%
Liberty Global Plc Lilac Class A (LILA) $23.01 -1.33%
Sirius XM Holdings Inc (SIRI) $4.72 -1.26%
Incyte Corp. (INCY) $118.18 -1.25%
Regeneron Pharmaceuticals Inc. (REGN) $357.69 -1.19%
Liberty Global Plc Lilac Class C (LILAK) $22.42 -1.19%