Stock market trading on Thursday
The Dow Jones Industrial Average US stock index fell for the third straight session on Thursday, while gains in technology stocks contributed to gains in the S&P 500 and Nasdaq.
The Dow Jones Industrial Average index fell 66.57 points (0.19%) to 34894.12 points on Thursday.
At the same time, the Standard&Poor's 500 rose 5.53 points (0.13%) on the day to 4405.8 points.
Nasdaq Composite by the end of trading rose by 15.87 points (0.11%) to 14541.79.
Investors remain positive about corporate earnings growth, but concerns about the spread of a new strain of coronavirus infection continue to weigh on market sentiment, MarketWatch noted.
The number of Americans who applied for unemployment benefits for the first time decreased by 29,000 to 348,000 last week, the US Labor Department said on Thursday.
Among the companies included in the calculation of the Dow Jones Index, shares of Boeing (NYSE:BA) (-3.1%), Caterpillar (NYSE:CAT) (-2.6%) and Chevron (NYSE:CVX) (-2.5%) fell the most.
Meanwhile, the share price of Cisco Systems Inc (NASDAQ:CSCO). rose 3.8%. The networking equipment maker posted stronger-than-expected net income and revenue gains in its fiscal fourth quarter (May-July) on higher product orders.
Graphics processor maker Nvidia Corp (NASDAQ:NVDA). posted record net income and revenue for the second fiscal quarter that ended Aug. 1. The company's capitalisation rose 4%.
Shares of Bath&Body Works, formerly L Brands Inc. jumped 10.5%. The perfume manufacturer posted better-than-consensus net profit in the second fiscal quarter (May-July).
Department store chain Macy's Inc. (SPB: NYSE:M) posted strong financial results in its fiscal second quarter, allowing it to raise its full-year outlook. In addition, the company said it will resume paying dividends and launch a $500 million share buyback program. Macy's stock soared nearly 20 percent.
Kohl's Corp (NYSE:KSS). shares gained 7.3%.
Cosmetics company Estee Lauder (NYSE:EL) Cos. Inc. reported better-than-expected fourth-quarter earnings and revenue and gave a strong outlook for the current fiscal year. The company's market value rose 2.6%.
