Dow dragged down by banks; S&P and Nasdaq flat

Diluted earnings per share for the quarter decreased 10 percent to 1.55 dollars from 1.73 dollars a year ago.

USA equities have rallied sharply after Trump's election victory in November, spurred by hopes the Republican-led government will cut regulations and taxes and enact higher infrastructure spending.

The Dow Jones Industrial Average rose 39.27 points, or 0.2 percent, to 20,091.69, the S&P 500 gained 0.4 points, or 0.02 percent, to 2,292.96 and the Nasdaq Composite added 7.06 points, or 0.12 percent, to 5,670.61.

The S&P 500 index added 1.59 points, or 0.1 percent, to 2,294.67.

Oil prices were pressured by sluggish demand and evidence of a burgeoning revival in USA shale production that could complicate efforts to reduce a supply glut.

"But because it's the first three weeks or four weeks of a new president who is promoting radical change than what has been going on, Washington takes precedence, I think, over earnings in the eyes of investors these days".

Walt Disney was up 1.6% at US$110.89 after Bob Iger said he was open to extending his term as chief executive officer.

The entertainment firm reported quarterly earnings of 2.479 billion USA dollars for its first fiscal quarter ended December 31, 2016, a decrease of 14 percent from the prior-year quarter.




Tech stocks helped prop up the S&P.

Seven of the 11 major S&P sectors were higher, with technology index's 0.58 percent rise and industrials' 0.56 percent gain leading the advancers.

Financials, which have soared since the election, were the worst-performing S&P sector, falling 0.8 percent.

Shares of Michael Kors dropped 12.8 per cent to $36.02 after the handbag maker reported disappointing third quarter sales and cut its full-year revenue forecast.

In corporate earnings news, Emerson Electric shares rose 4.5 percent after the manufacturer reported a higher-than-expected profit.

General Motors slipped 3.3 per cent to $35.68 after the automaker said fourth-quarter net income fell partly because of $500 million in foreign exchange losses.

Issues in the declining sense have been less than advancing issues on the NYSE by about 1.29 to 1 ration and on NASDAQ a ratio of 1.23 to 1 in favor of the decliners.

The S&P 500 index showed 25 new 52-week highs and two new lows, while the Nasdaq recorded 73 new highs and 25 new lows.

Related news:

Hot News

isis-killer-beheading-video-story-top UFC 208: Holly Holm vs Germaine de Randamie
Feb 10, 2017 - 02:13
Last December, she was flagged for a potential violation of the UFC's drug-testing policy, administered by the U.S. And my fight with Shevchenko, she's up for the title bout right now and I know that it was still a close to fight.

isis-killer-beheading-video-story-top Is It Legal For Donald Trump To Delete Tweets As President?
Feb 09, 2017 - 01:02
The day following the Pulse nightclub massacre, global and national media flooded Orlando, staying for several days. Trump took to Twitter about the article , saying , "The failing @nytimes writes total fiction concerning me".

Hundreds of Nigerians take to streets to protest economic crisis
Feb 09, 2017 - 00:52
Olusegun Obasanjo, his Christian predecessor, held office for the maximum eight years, while Jonathan was in power for five. Buhari took office in 2015 after defeating then leader Goodluck Jonathan in the presidential election.

isis-killer-beheading-video-story-top Freezing rain bears down on Toronto, GTA before evening commute
Feb 09, 2017 - 00:50
Are school buses cancelled again this Tuesday? The precipitation is expected to last into Tuesday evening before tapering off. Though the mix of snow and freezing rain didn't affect this morning's commute, the messy weather hit the GTA around noon.

Aguero eager to prove he has a future at Man
Feb 09, 2017 - 00:46
Express Sport understands City want Aguero to stay at the club beyond this summer. He needs few training sessions to be ready.

Somalia's new leader vows to rebuild failed state
Feb 09, 2017 - 00:45
Years of conflict, al-Shabab attacks and starvation left this Horn of Africa country of about 12 million people largely shattered. The Speaker of the Federal Parliament noted that the top 4 candidate with most votes will advance to the second round of voting.

isis-killer-beheading-video-story-top Special day for Queen Elizabeth
Feb 08, 2017 - 00:58
Prime Minister Theresa May has given her congratulations to the Queen, calling her: "an inspiration to all of us". Such is her tradition, for the day of her accession was also the day her father, King George VI, passed away .

5 reasons to watch the 59th annual Grammy Awards
Feb 08, 2017 - 00:58
The 2017 Grammys performer lineup keeps expanding, and not just because Beyoncé will (probably) be there with her twins. Get ready for the biggest night in music when James Corden hosts the 59 Annual Grammy Awards.

GM's hourly workers to get bonus checks up to $12000
Feb 08, 2017 - 00:57
Adjusted earnings, before interest and taxes, rose 16 percent to $12.5 billion, as revenue rose 9.2 percent to $166.4 billion. A year earlier, payments of up to $11,000 were awarded to union workers after $11bn of North American profits were posted.

isis-killer-beheading-video-story-top MP Buck votes against triggering Article 50 on Brexit
Feb 08, 2017 - 00:57
The Labour leader has imposed a three-line whip requiring his MPs to support legislation that will enable the Government to trigger Brexit.

Oldest captive fish euthanized in his mid-90s by Chicago aquarium
Feb 08, 2017 - 00:56
One Facebook user wrote a remembrance of Granddad, describing a role that the fish had in his wedding. Sattler, who has provided care for Granddad for more than 15 years, said he will be missed.

isis-killer-beheading-video-story-top Kanye West denies producing Trump diss track
Feb 08, 2017 - 00:55
TMZ says Kanye is specifically upset with the President over the "Muslim ban" and it's "turned him against" Trump . Apparently, he is not happy with President Trump's executive orders to ban immigration and among other things.

21st Century Fox Q2 Profit Beats, But Revenue Falls Short
Feb 08, 2017 - 00:52
The consensus price target (PT) of $34.00 means that the market expects Company shares to increase by 9.1% in the short run. Johnson Financial Group Inc. boosted its stake in shares of Twenty-First Century Fox by 5,109.9% in the second quarter.

Quake in Uttarakhand; tremors across northern India
Feb 07, 2017 - 01:27
Strong tremors were also felt in national capital Delhi and neighbouring Gurgaon, Punjab and other parts of north India. A strong natural disaster of magnitude 5.8 rocked Uttarakhand on Monday.

isis-killer-beheading-video-story-top Planet Labs Inks Deal for Google's Satellite Business
Feb 07, 2017 - 01:27
Founded in 2010, Planet builds small satellites and operates a so-called constellation for Earth observation. With the deal, Planet will receive seven high-resolution satellites that Terra Bella now has in orbit.