Wall Street ends higher as Dow edges to latest record

Posted August 09, 2017

Wall Street had opened lower from record highs for the Dow Jones Industrial Average and S&P 500, and European equities were also lower in afternoon trading.

The rise in the Dow also put the blue-chip index on track to close higher for the 10th straight day, its longest streak of consecutive gains since February.

US stock indexes rebounded from an early slide and were higher in midday trading.

As of 9:15 a.m. local time, the 225-issue Nikkei Stock Average edged up 3.32 points, or 0.02 percent, from Monday to 20,059.21.

"Despite precious few game changing economic policies from Trump thus far, the latest U.S. jobs data coupled with elevated business confidence numbers suggest firms remain bullish for the United States economy going forward", said Joshua Mahony, market analyst at IG.

Wal-Mart shares were up nearly 1 percent.

The Standard & Poor's 500 index fell 4 points, or 0.2 percent, to 2,476.

Another consumer stock to look forward to is Tyson Foods Inc.; it manages to increase by tremendous 5.7% after revenues topped forecasts on recent quarter performance report.

Rockwell Collins, which makes communications and avionics systems, jumped 6.8 per cent on reports United Technologies is considering a bid to buy the company.

Second-quarter earnings have grown by 10.1 percent, exceeding S&P Capital IQ predicted earnings of 6.2 percent.

Investors continued to concentrate on corporate earnings Monday.

Tesla edged up 0.26 percent after the electric auto maker said it plans to raise about $1.5 billion in a bond offering.

Declining issues outnumbered advancing ones on the NYSE by a 1.08-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers. Nasdaq manages to set a new high for its biggest one-day percentage rise since July.