How major USA stock indexes fared Thursday

How major USA stock indexes fared Thursday

How major USA stock indexes fared Thursday

The S&P financial index .SPSY fell 1.4 percent, among the biggest drags on the S&P 500.

"Investors are more comfortable with FAANG stocks and technology as far as valuations go, and these stocks have higher margins", Tom White, chief market strategist at TradeWise Advisors, in Chicago, Illinois, told Reuters.

Trade tensions have simmered throughout the strong earnings season, however.

Mylan's 6.8 percent drop was the most on the benchmark S&P 500 after the drugmaker reported quarterly results and said it was actively evaluating a "wide range of alternatives".

The Dow is up 46.65 points, or 0.2 percent.

About 6.7 billion shares changing hands on USA exchanges.

"We are in the zone of full employment and inflationary trends are continuing to firm, and that is supportive of the federal reserve removing monetary policy accommodation throughout the balance of this year".

Limiting the day's rise was energy sector.

However, the healthcare sector got a boost from a 3.6 percent gain in CVS Health and a 2.8 percent rise in Aetna.

The Dow Jones Industrial Average decreased 74.52 points, or 0.29 percent, to 25,509.23.

Seven of the 11 major S&P sectors were lower.

Shares of trade-sensitive companies also declined, including Boeing, 3M and Caterpillar, which were all down at least 1 per cent.

Citigroup, the most global of the major US banks, fell 2.3 percent. Intel dropped 2.3 percent after Goldman Sachs downgraded the stock to "sell".

Bookings Holdings (BKNG.O) fell 5.9 percent and weighed the most on the S&P and the Nasdaq after it forecast third-quarter profit below expectations.

Lam Research, Micron, Applied Materials and ON Semiconductor fell between 1 percent and 4.7 percent.

Declining issues outnumbered advancing ones on the NYSE by a 2.10-to-1 ratio; on Nasdaq, a 1.51-to-1 ratio favoured decliners.

"There is low volatility in the markets as the S&P and Nasdaq are just below all-time record highs, and it seems like markets are complacent right now".

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