Tuesday, 24 October, 2017

Markets Right Now: Stocks shake off a stumble, turn higher

E-mini Dow Jones Industrial Average Weekly September E-mini Dow Jones Industrial Average
Cecilia Poole | 09 August, 2017, 00:09

Aug 7 (Reuters) - U.S. stocks were slightly up in early afternoon trading on Monday, with the Dow on track to close at a record high for the ninth straight day, after squeezing out another all-time high just after the open.

The Dow Jones industrial average gained 49 points, or 0.2 percent, to 22,168. Click on ticker-symbol links in each slide for current prices and more.

Investors are also awaiting earnings reports from retailers to conclude a largely positive second-quarter earnings season.

Investors continued to concentrate on corporate earnings Monday.

The S&P 500 climbed 4.08 points, or 0.16 percent, to 2,480.91 and the Nasdaq Composite added 32.21 points, or 0.51 percent, to end at 6,383.77.

The S&P's consumer staples index, up 0.7%, and its technology index, up 0.6% were the benchmark's leading sectors on the day.

Avis Budget Group fell 5.84% as the auto rental company's second-quarter profit missed expectations and the company cut its full-year profit view.

Shares of United Technologies were down 1.23 percent in premarket trading following a report that the company has submitted an offer to buy aircraft component manufacturer Rockwell Collins. Tyson Foods, one of the consumer staples sector's biggest boosts on the day, rose 5.7 percent after the No. 1 USA meat processor reported greater-than-expected quarterly profit and sales. "I think it's dragging the broader market higher", he said.

In deal news, medical device company NxStage Medical jumped 28.2% after it agreed to be bought by Fresenius Medical Care.

Nasdaq 100 e-minis were up 7.25 points, or 0.12 percent, on volume of 16,846 contracts.

The price of oil fell 1.4 percent, sending energy companies lower.

Declining issues outnumbered advancers on the NYSE by 1,443 to 1,367.

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