S&P 500 ekes out gain while banks drag on Dow

(Additional reporting by Yashaswini Swamynathan in Bengaluru; Editing by Alan Crosby and Nick Zieminski) ((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net)) Keywords: USA STOCKS/ (UPDATE 6)This article appears in: US Markets , Stocks , Stocks , Stocks , Stocks , Stocks The S&P 500 posted 19 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 92 new highs and 51 new lows. Goldman Sachs fell 0.8 percent, making it the biggest drag on the Dow, and JP Morgan dropped 0.9 percent. Gilead Sciences shares tumbled 8.6 percent and were the biggest drag on the benchmark S&P after the biotech company's weak forecast for its hepatitis C medicines. Advancing issues outnumbered declining ones on the NYSE by a 1.29-to-1 ratio; on Nasdaq, a 1.23-to-1 ratio favored decliners.


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S&P 500 ekes out gain while banks drag on Dow

REUTERS/Brendan McDermidThe S&P 500 ended slightly higher on Wednesday as investors digested mixed earnings reports, while the Dow Jones Industrial Average slipped as bank stocks weighed. The S&P 500 posted 19 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 92 new highs and 51 new lows. REUTERS/Brendan McDermidTraders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 7, 2017. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 7, 2017. Goldman Sachs (GS.N) fell 0.8 percent, making it the biggest drag on the Dow, and JP Morgan (JPM.N) dropped 0.9 percent.




Chinese markets were higher in early trade, as the Shanghai composite added 0.11% while the Shenzhen composite climbed 0.27%. The Dow Jones fell 36 points, or 0.18%, to 20,054, the S&P 500 gained two points, or 0.07%, to 2,295 and the Nasdaq Composite added eight points, or 0.15%, to 5,682. The Nasdaq gained moderately to close at a record high for a second straight day, lifted by big tech names such as Facebook (FB.O) and Apple (AAPL.O). The Nasdaq Composite Index and the S&P 500 ended slightly higher on Wednesday as investors digested mixed earnings reports, but weak financial stocks dragged the Dow Jones Industrial Average lower. In other corporate news, Nordstrom (JWN.N) shares added 4.1% after US President Donald Trump attacked the retailer on Twitter for dropping his daughter Ivanka's clothing line.


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