US close: Telecoms help stocks break losing streak

The Dow Jones Industrial Average closed up 92.93 points to 17,733.10, with Merck leading the risers and Nike dragging the losers.

Telecoms lead nine sectors higher on the S&P 500, which closed up 0.31% at 2,077.99, while the Nasdaq finished up 0.21% at 4,844.91.

Energy was the only declining sector, as crude prices settled down throughout the session – Brent crude was last down 4.08% at $47.05 per barrel, while West Texas Intermediate lost 4.28% at $46.04.

The major indexes lifted off their earlier session lows as selling in sterling eased against the greenback towards the end of the day.

The move in the pound came at the same time as David Cameron said all campaigning in the EU referendum has been suspended, following the news that Labour MP Jo Cox had been killed in a shooting earlier in the day.

As the UK went to bed the cause behind the shooting was unclear, but there was speculation that the act could encourage more voters to choose to remain in the EU.

“Civility took over and the debate over Brexit stopped for a period of time,” said Wunderlich Securities chief market strategist Art Hogan.

Both the Dow and S&P Utilities rose more than half a percent by the closing bell, to hit fresh 52-week intraday highs.

Overnight, the Bank of Japan went short of offering further monetary stimulus, but governor Haruhiko Kuroda said the strength in the yen could have undesirable effects on Japan’s economy and future inflation.

“It really calls into question whether the Bank of Japan has run out of bullets and trigger the yen to go higher (against the dollar),” said The Earnings Scout CEO Nick Raich.

The National Association of Home Builders released fresh data on builder sentiment during the session, with the reading rising two points to 60.

S&P 500 - Risers
Viacom Inc. Class B (VIAB) $45.05 +6.75%
Symantec Corp. (SYMC) $19.78 +4.16%
Frontier Communications Co. (FTR) $5.04 +3.70%
Merck & Co. Inc. (MRK) $57.50 +2.51%
CBS Corp. (CBS) $54.48 +2.41%
Hormel Foods Corp. (HRL) $34.97 +2.33%
Sysco Corp. (SYY) $49.76 +2.26%
Assurant Inc. (AIZ) $85.25 +1.97%
Tyson Foods Inc. (TSN) $61.49 +1.87%
Activision Blizzard Inc. (ATVI) $39.03 +1.83%

S&P 500 - Fallers
Pioneer Natural Resources Co. (PXD) $152.64 -6.07%
American Airlines Group (AAL) $29.14 -4.43%
United Rentals Inc. (URI) $67.01 -4.05%
Murphy Oil Corp. (MUR) $27.98 -3.98%
Under Armour Inc. Class A (UA) $36.42 -3.55%
Transocean Ltd. (RIG) $10.52 -3.31%
Newfield Exploration Co (NFX) $39.13 -3.19%
Marathon Oil Corp. (MRO) $12.67 -2.99%
Diamond Offshore Drilling Inc. (DO) $23.84 -2.93%
Apache Corp. (APA) $53.00 -2.81%

Dow Jones I.A - Risers
Merck & Co. Inc. (MRK) $57.50 +2.51%
E.I. du Pont de Nemours and Co. (DD) $66.92 +1.76%
Microsoft Corp. (MSFT) $50.39 +1.41%
3M Co. (MMM) $169.93 +1.27%
Exxon Mobil Corp. (XOM) $91.22 +1.18%
Verizon Communications Inc. (VZ) $53.46 +1.17%
Unitedhealth Group Inc. (UNH) $138.66 +1.02%
Travelers Company Inc. (TRV) $112.75 +0.84%
American Express Co. (AXP) $61.93 +0.83%
Cisco Systems Inc. (CSCO) $28.87 +0.77%

Dow Jones I.A - Fallers
Nike Inc. (NKE) $53.47 -1.55%
Boeing Co. (BA) $129.37 -0.61%
Pfizer Inc. (PFE) $34.75 -0.11%
Caterpillar Inc. (CAT) $74.99 -0.11%

Nasdaq 100 - Risers
Viacom Inc. Class B (VIAB) $45.05 +6.75%
Symantec Corp. (SYMC) $19.78 +4.16%
Baidu Inc. (BIDU) $165.52 +2.79%
Activision Blizzard Inc. (ATVI) $39.03 +1.83%
Stericycle Inc. (SRCL) $102.89 +1.66%
Ctrip.Com International Ltd. Ads (CTRP) $39.84 +1.50%
Monster Beverage Corp (MNST) $155.82 +1.43%
Priceline Group Inc (PCLN) $1,323.89 +1.41%
Microsoft Corp. (MSFT) $50.39 +1.41%
Biogen Inc (BIIB) $242.19 +1.37%

Nasdaq 100 - Fallers
American Airlines Group (AAL) $29.14 -4.43%
Biomarin Pharmaceutical Inc. (BMRN) $80.80 -3.82%
Check Point Software Technologies Ltd. (CHKP) $81.70 -3.06%
Alexion Pharmaceuticals Inc. (ALXN) $127.49 -1.59%
Alphabet Inc. Class C (GOOG) $710.36 -1.19%
Bed Bath & Beyond Inc. (BBBY) $42.45 -1.14%
Alphabet Inc. Class A (GOOGL) $724.25 -1.08%
Liberty Global plc Series A (LBTYA) $35.04 -0.88%
TripAdvisor Inc. (TRIP) $64.39 -0.69%
Liberty Global plc Series C (LBTYK) $34.27 -0.67%