US: Stocks mixed, ending S&P 500 streak of records
WALL Street stocks finished mixed on Friday (Jan 26), ending the S&P 500‘s streak of records following moderate inflation data and uneven corporate earnings.
The personal consumption expenditures price index rose at an annual rate of 2.6 per cent last month, unchanged from November, data that is expected to keep Federal Reserve interest rates level.
Meanwhile, corporate earnings produced outsized moves in both directions, with Intel sinking nearly 12 per cent, but American Express winning 7.1 per cent.
The Dow Jones Industrial Average climbed 0.2 per cent to 38,109.43, eking out a fresh record.
But the S&P 500 slipped 0.1 per cent to 4,890.97, snapping a four-day streak of records.
The tech-rich Nasdaq Composite Index dropped 0.4 per cent to 15,455.36.
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Among individual companies, JetBlue Airways jumped 3.6 per cent after disclosing that it informed Spirit Airlines that its proposed takeover could be terminated on Jan 28 following an unfavourable US court ruling.
Spirit sank 13.5 per cent.
JPMorgan Chase dropped 0.4 per cent after announcing a spate of new senior executive appointments. The move has been seen as preparing possible successors to longstanding chief executive officer Jamie Dimon.
Analysts are looking ahead to a busy period next week that includes a Fed meeting and earnings from Amazon, Microsoft and other large technology companies. AFP
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