Wall Street cruises to more records
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US stock futures rose slightly on Friday (July 18) after the S&P 500 closed at a record high in the previous session, with major indexes on pace to end the week in positive territory. Futures tied to the S&P 500 and Nasdaq-100 each ticked up 0.
Stock futures are slightly higher Friday morning as the market looks to close out the first week of earnings-reporting season on a high note.
Shares of Ingersoll Rand Inc. IR slipped 2.51% to $85.55 Friday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX falling 0.01% to 6,296.79 and Dow Jones Industrial Average DJIA falling 0.32% to 44,342.19.
Just a day after the S&P 500 and Nasdaq climbed into record territory, both indexes notched fresh intraday highs on Friday. However, weakness in American Express ( AXP) and 3M ( MMM) dragged on the Dow, leaving markets muted as a whole.
Dow Jones pulled back as 3M declined by 4.2%. The stock found itself under pressure despite the strong earnings report. Traders decided to use the report as an opportunity to take profits near yearly highs.
McDonald's Corp. closed 8.96% short of its 52-week high of $326.32, which the company achieved on March 10th.
The Dow Jones Industrial Average (DJIA) wobbled on Friday, testing fresh weekly highs on consumer sentiment and inflation expectations data. However, the Dow backslid after earnings misses in key overweight companies dragged the index sharply lower to round out the trading week.
Stocks were taken on a wild ride Wednesday as a White House official indicated to CNBC that Trump was moving closer to firing Powell from his post as Fed Chair.
US Stock market today ended higher as the Dow Jones, S&P 500, and Nasdaq all posted modest gains amid upbeat earnings reports and a surprise jump in retail sales. Investors are cautiously optimistic despite political tension as President Trump continues pressuring Fed Chair Jerome Powell over interest rate cuts.
AMC Entertainment Holdings stock has been steadily rising, and one Wall Street analyst sees no end to the good times.Shares surged 9.4% to $3.48 on Thursday, its highest closing price since May 30, according to Dow Jones Market Data.