Published: Sat, October 14, 2017
Money | By Armando Alvarado

U.S. stocks close slightly higher, Nasdaq hits new record

U.S. stocks close slightly higher, Nasdaq hits new record

For the week to Thursday the S&P 500 is up 1.60 points, or 0.1% and t he Dow is up 67.34 points, or 0.3%.

The Dow Jones eased 31.87 points, down 0.14% at 22,841.02 while the S&P 500 lost 3.4 points at 2,551.84.

Stocks open with slight gains, with the S&P 500 and Nasdaq setting new intraday all-time highs; Dow and Nasdaq +0.2%, S&P +0.1%.

On Wednesday US stock indexes reached record highs as investors got ready for another round of corporate reports to begin.

Netflix shares were up 1.47 per cent, hitting a record high at $200.81, after a slew of price target increases ahead of its earnings report on Monday.

About 5.8 billion shares changed hands on USA exchanges.

Bank of America, the second-biggest U.S. bank by assets, rose 1.10 per cent after the lender's profit topped estimates due to higher interest rates and a drop in costs. Shares in Leading Brands Inc (NASDAQ:) rose to 52-week highs; up 68.15% or 0.920 to 2.270.

Jupiter Fund Management PLC (JUP) Stock Rating Reaffirmed by Numis Securities Ltd
After $0.29 actual EPS reported by Stagecoach Group plc for the previous quarter, Wall Street now forecasts 10.34% EPS growth. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company.

But Wells Fargo tumbled more than 3 per cent, set for its biggest drop since mid-April, after reporting lower-than-expected revenue for the fourth straight quarter due to a decline in mortgage banking revenue.

In the broad market, real estate led gains and financial stocks led losses.

Retail sales in September fell just short of the expected 1.7 percent increase but came in at 1.6 percent compared to the previous month, according to the Commerce Department.

Most of the S&P's 11 sectors are trading higher but financials (-0.7%), health care (-0.4%) and telecoms (-0.8%) are notable decliners.

Tenet Healthcare dropped 5.1 per cent and Community Health System declined 4 per cent.

Advancing issues outnumbered declining ones on the NYSE by a 1.43-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners.

The top performers on the NASDAQ Composite were Leading Brands Inc (NASDAQ:) which rose 68.15% to 2.270, China Lending Corp (NASDAQ:) which was up 42.75% to settle at 5.14 and Net Element Inc (NASDAQ:) which gained 29.56% to close at 5.2600.

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