ZCZC
BCN-05
US-STOCKS-MARKETS
Dow ends at 2nd straight record but Nasdaq falls
NEW YORK, Sept 22, 2018 (BSS/AFP) – The Dow rode a wave of bullish
investor sentiment to a second straight record on Friday, while the Nasdaq
declined on weakness in semiconductor stocks and some tech giants.
The Dow Jones Industrial Average finished at 26,743.50, up 0.3 percent,
adding to its record of Thursday, which was its first all-time high since
January.
The broad-based S&P 500 slipped less than 0.1 percent to 2,041.28, while
the tech-rich Nasdaq Composite Index dropped 0.5 percent to 7,986.96.
Analysts attributed the Dow’s gains to continued solid US economic data
and greater investor optimism about trade fights after fresh actions from the
United States and China were not as severe as they could have been.
This week’s tariff actions by Washington and Beijing “feel less bad,” said
Art Hogan, chief market strategist at B. Riley FBR.
“This is a market that has certainly been able to shrug off the latest
round of tariffs,” he said.
Especially strong Dow members included McDonald’s, which jumped 2.8
percent, while Boeing, Cisco Systems and Chevron all gained more than one
percent.
Many of the largest technology companies fell, with Apple, Amazon,
Facebook and Google parent Alphabet all shedding more than one percent.
Micron Technology slumped 2.9 percent after it warned that profit margins
would be affected in the upcoming quarter by new US tariffs on Chinese
imports.
General Electric fell for a second session in a row, this time by 2.3
percent on worries about a technical glitch uncovered in its gas turbine
technology.
BSS/AFP/HR/0920