Dow Jones and S&P top record highs

Dow Jones and S&P top record highs

IT

USA equities were on track for a tenth-straight record session Tuesday after jobs data jolted a languid summer trading session, with the dollar also shooting higher. The Dow has also advanced 11.8% entering Monday's session.

The S&P 500 climbed 0.16% to close at 2,480.91, its first record close since July 26.

But much better data on United States job openings from a survey called JOLTS shocked the market, leading equities on both sides of the Atlantic to push into positive territory.

Yet trading volume was relatively light as investors had little reason to make big bets with the U.S. Congress and President Donald Trump on vacation and a stronger-than-expected earnings season drawing to a close.

In Europe, London's commodities-heavy FTSE 100 index of major blue-chip firms stocks ended the day with a 0.1 percent gain.

At 9:38am ET (1338 GMT), the Dow Jones Industrial Average was down 31.4 points, or 0.14%, at 22,087.02, and the S&P 500 was down 4.19 points, or 0.16%, at 2,476.72. The Nasdaq composite rose 32 points, or 0.5 percent, to 6,383.

The Labor Department said USA job openings, a measure of labor demand, jumped to a record high in June and was at the highest level since December 2000.

According to Robert Pavlik of Boston Private Wealth, "We have a low-inflation environment, low-interest rates, and corporate earnings have come in incredibly well".

"With retail earnings, it would be interesting to see if expectations have fallen enough for these companies to beat them", Wiegand said.

Tyson Foods (+5.7%) was the top performer in the consumer staples group after beating both top and bottom line estimates and issuing upbeat revenue guidance, and chipmakers helped boost the tech sector.

Warren Buffett's Berkshire Hathaway was down 1.11 percent after the company reported a drop in second-quarter profit.

  • Terrell Bush