US stocks closed mixed amid data, earnings
Thursday - August 23, 2018 2:24 am ,
Category : BUSINESS
US stocks closed mixed amid data, earnings
New York Aug 23 (IANS) US stocks closed mixed on Wednesday as investors digested a batch of corporate earnings reports and key economic data.
The Dow Jones Industrial Average fell 88.69 points or 0.34 per cent to 25 733.60. The S&P 500 decreased 1.14 points or 0.04 per cent to 2 861.82 Xinhua news agency reported.
The Nasdaq Composite Index rose 29.92 points or 0.38 per cent to 7 889.10.
US department store retailer Target released quarterly earnings results on Wednesday that topped Wall Street s expectations. Its adjusted earnings per share reached $1.47 for the second quarter while its revenue stood at $17.78 billion.
Shares of Target surged on Wednesday closing 3.21 per cent higher at $85.94 apiece.
On the economic front existing home sales subsided for the fourth straight month in July to their slowest pace in over two years according to the National Association of Realtors.
Total existing home sales which are completed transactions that include single-family homes townhomes condominiums and co-ops fell 0.7 per cent to a seasonally adjusted annual rate of 5.34 million units last month the association said on Wednesday.
The Fed s annual economic symposium that will start later this week in Jackson Hole in the US state of Wyoming is also in focus.
Fed Chair Jerome Powell is due to deliver a speech on Friday and the summit will be themed around the idea of changing market structure and the implications for monetary policy going forward.
--IANS pgh/
The Dow Jones Industrial Average fell 88.69 points or 0.34 per cent to 25 733.60. The S&P 500 decreased 1.14 points or 0.04 per cent to 2 861.82 Xinhua news agency reported.
The Nasdaq Composite Index rose 29.92 points or 0.38 per cent to 7 889.10.
US department store retailer Target released quarterly earnings results on Wednesday that topped Wall Street s expectations. Its adjusted earnings per share reached $1.47 for the second quarter while its revenue stood at $17.78 billion.
Shares of Target surged on Wednesday closing 3.21 per cent higher at $85.94 apiece.
On the economic front existing home sales subsided for the fourth straight month in July to their slowest pace in over two years according to the National Association of Realtors.
Total existing home sales which are completed transactions that include single-family homes townhomes condominiums and co-ops fell 0.7 per cent to a seasonally adjusted annual rate of 5.34 million units last month the association said on Wednesday.
The Fed s annual economic symposium that will start later this week in Jackson Hole in the US state of Wyoming is also in focus.
Fed Chair Jerome Powell is due to deliver a speech on Friday and the summit will be themed around the idea of changing market structure and the implications for monetary policy going forward.
--IANS pgh/
