U.S. Shares Slip From Near Records in Biggest Week for EarningsBy
U.S. stocks declined as investors awaited a Federal Reserve meeting on July 25-26 and braced for a busy week of earnings reports, including Alphabet Inc.’s after today’s close.
The S&P 500 dipped 0.1 percent to 2,469.34 at 10:15 a.m. in New York. While the benchmark gained in each of the past three weeks, last week’s increase was pared on political concerns and disappointing earnings from General Electric Co. The Dow Jones Industrial Average lost 0.1 percent to 21,543.
- Financial shares only group higher in early trading, up 0.2%
- Utility, telecom and health-care stocks biggest laggards in index
- VIX up to 9.7
- S&P Volume about 18% lower than 30-day average at time
- Jared Kushner confirmed four contacts with Russians during his father-in-law’s presidential campaign and the transition, but he described the encounters as unmemorable and denied colluding with the Russian government to help Donald Trump win
- Markit Economics flash composite purchasing managers’ index up to 54.2 vs 53.9 in June; year ago 51.8
- Existing-home sales at 5.52m, vs est. of 5.57m, according to the National Association of Realtors
- After-market Monday: Everest Re Group Ltd (RE), Anadarko Petroleum Corp (APC), Alphabet Inc (GOOGL)
- Pre-market Tuesday: Newmont Mining Corp (NEM), Biogen Inc (BIIB), Centene Corp (CNC), Pentair PLC (PNR), United Technologies Corp (UTX), PulteGroup Inc (PHM), McDonald’s Corp (MCD), Freeport-McMoRan Inc (FCX), Interpublic Group of Cos Inc/The (IPG), Waters Corp (WAT), EI du Pont de Nemours & Co (DD), 3M Co (MMM), Eli Lilly & Co (LLY), Quest Diagnostics Inc (DGX), Avery Dennison Corp (AVY), T Rowe Price Group Inc (TROW), Kimberly-Clark Corp (KMB), Caterpillar Inc (CAT), General Motors Co (GM), PACCAR Inc (PCAR), Seagate Technology PLC (STX), HCA Healthcare Inc (HCA), CR Bard Inc (BCR)
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