Dow notches 9th straight record close

S&P 500 and NASDAQ Were Weak amid Mixed Market Sentiment

Dow ends at ninth straight record, S&P 500 also hits all-time high

Stock futures were trading lower on Tuesday, Aug. 8, with the Dow Jones Industrial Average's record-breaking streak under threat for the second day in a row. The Nasdaq Composite Index also manages to get caught in the tailwind; it manages to record a total increase of 0.5% or 32.21 points and closing to 6,383.77 levels.

Fishery, agriculture and forestry, iron and steel and miscellaneous shares comprised those that gained the most in the opening minutes of trade. The company manages to take the lead in biggest gainers amongst consumer staples stocks.

The Dow Jones Industrial Average added 26 points, or 0.12%, to close at 22,118.

Tyson Foods rose 4.94 percent after the No.1 USA meat processor reported better-than-expected quarterly profit and sales.

"New record highs were registered last week as the flow of earnings continued positive with major corporations offering positive guidance going forward", said Peter Cardillo, chief market economist at First Standard Financial. Henry Schein lost 5.1 percent and Microsoft lost 0.6 percent.

Medical device company NxStage Medical jumped 28 percent after it agreed to be bought by Fresenius Medical Care.

Stocks are little changed in early trading as technology companies rise and energy companies slip with the price of oil. The Nasdaq rose 27 points, or 0.4 percent, to 6,378.

Meanwhile, investors will continue to closely track the second-quarter earnings season to see if pricey valuations are justified.

Benchmark U.S. crude oil fell 1.4 percent and Anadarko Petroleum lost 1.1 percent.

The S&P 500 has risen about 11 percent in 2017 despite investors losing confidence in President Donald Trump's ability to legislate his pro-growth agenda of tax cuts and infrastructure spending this year.

Latest News