The S&P 500 index showed 39 new 52-week highs and no new lows, while the Nasdaq recorded 99 new highs and 23 new lows.
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The Dow is down 114.50 points, or 0.6 percent.
Traders have priced in a 19.5 per cent chance of a rate increase in September and a 42.8 per cent chance in December, according to CME Group’s FedWatch tool. The Dow Jones Industrial Average fell 30 points, 0.2% to 18,445, while the Nasdaq Composite Index ended was up 8 points, or 0.2%, at 5,148.
“When you’ve got a one-way market, which we’ve had for several weeks, it is bound to consolidate or rest a bit”, said David Donabedian, chief investment officer of Atlantic Trust Private Wealth Management.
The broad-based S&P 500 edged up 0.1 percent to 2,167.56, while the tech-rich Nasdaq Composite Index climbed 0.2 percent to 5,151.94. “It is like flipping a coin”.
A set of better-than-expected results this week from key companies including Apple and Boeing have improved the prospects for corporate earnings in the latest quarter.
The S&P 500 index was down 4.28 points, or 0.2 per cent, at 2,162.3.
Sixty-eight per cent of S&P 500 companies to report earnings so far have bested expectations, said S&P Global Market Intelligence.
A report by the U.S. Labor Department showed that the number of people claiming unemployment benefits rose more than expected to 266,000 for the week ended July 22.
In extended trade, Alphabet jumped four percent after the Google parent-company reported stronger-than-expected revenue.
USA -listed shares of Royal Dutch Shell dropped 3.4 percent after the company reported a 70 percent plunge in quarterly earnings.
Oil prices tumbled more than 2 percent, hitting a two-month low, after the US government reported a surprise build in crude and gasoline inventories during the peak summer driving season.
Amazon.com rose 1.7 percent after its quarterly report. Analysts have tempered their estimates for second-quarter profit declines to 4.5 percent and are forecasting a rebound starting in the current period.
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Apple-supplier Cirrus soared 12.5 percent to $47.01 after reporting better-than-expected first-quarter results.
