Saturday, 18 July 2015

The Dow Jones Industrial

The Dow Jones industrial average .DJI fell 33.8 points, or 0.19 percent, to end at 18,086.45. 
Boeing (BA.N) fell 1.11 percent and was the biggest drag on the Dow after it said it will take a second-quarter charge related to problems with its KC-46 aerial refueling tanker aircraft program.

General Electric (GE.N) shares rose 0.74 percent after raising its 2015 outlook for its industrial manufacturing businesses.

The technology index .SPLRCT was the sole gainer among the 10 major S&P 500 indexes, up 1.75 percent, mostly because of Google.

For the week, the Dow gained 1.8 percent, the S&P added 2.4 percent and the Nasdaq rose 4.3 percent, its largest weekly gain since October 2014.

The dollar saw its biggest weekly gain in two months due to expectations of a Federal Reserve rate hike this year. However, a strong dollar reduces the value of U.S. companies' overseas income.

U.S. companies have been expected to post their worst sales decline in nearly six years in the second quarter, in part due to the strong dollar. Profit is expected to have fallen 2.9 percent, according to Thomson Reuters estimates.

Declining issues outnumbered advancing ones on the NYSE by 2,000 to 1,076, for a 1.86-to-1 ratio; on the Nasdaq, 1,676 issues fell and 1,115 advanced for a 1.50-to-1 ratio favoring decliners.

The S&P 500 posted 21 new 52-week highs and 25 new lows; the Nasdaq saw 107 new highs and 87 new lows.

Volume was a bit light, with about 6.1 billion shares traded on U.S. exchanges, below the 6.6 billion average so far this month, according to BATS Global Markets.

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