Mnuchin pledges 'fix' to tax plan's deduction elimination
IBM's stock price surge would add over 70 points to the Dow
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Lam Research Corporation (NASDAQ:LRCX) Touching New 52-week High
IBM sends S&P 500, Dow lower; Nasdaq advances
20 April 2017, 06:16 | Kelvin Horton
The Dow Jones Industrial Average.DJI fell 119.13 points, or 0.58 percent, to 20,404.15, the S&P 500.SPX lost 4.03 points, or 0.17 percent, to 2,338.16 and the Nasdaq Composite.IXIC added 13.56 points, or 0.23 percent, to 5,863.03.
The Nasdaq is up 57.88 points, or 1 percent.
Among energy companies, Marathon Oil dropped 4.3 percent and Newfield Exploration sank 3.5 percent. The stock was the biggest drag on the S&P and the price-weighted Dow.
Twenty-First Century Fox fell 0.8 per cent as Fox News severed its relationship with Bill O'Reilly, dumping America's most-watched cable news anchor after a flood of sexual-harassment allegations and an advertiser boycott.
The stock sagged 5.6% after the company reported a bigger-than-expected decline in revenue of 2.6% in the quarter to March.
The Dow is up 641.89 points, or 3.2 percent.
The Standard & Poor's 500 index rose 7 points, or 0.3 percent, to 2,349.
A decline in oil prices and gains by tech stocks led to a mixed close on Wall Street on Wednesday.
U.S. crude fell below US$52 a barrel for the first time in two weeks.
"Crude broke US$52 on WTI, that is the strongest correlation we have right now away from the case-by-case earnings we have", said Art Hogan, chief market strategist at Wunderlich Securities in NY. "The problem with our impression of the earnings season is we just talk about the bad news".
Much of the same pattern was evident in USA trading Wednesday, only in the opposite direction, as earlier market optimism faded and a financials rally gave way to a selloff in Dow Jones Industrial Average component IBM (IBM) and energy shares. On the other hand, the market is also cautious amid a lack of clarity regarding President Trump's pro-growth policies.
Semiconductor company Lam Research surged 6.9 per cent after reporting better-than-expected quarterly earnings and surprising the market with a bullish forecast for the current quarter.
Precious metals have been well supported in recent weeks by escalating geopolitical tensions over North Korea and looming French elections.
Declining issues outnumbered advancing ones on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.52-to-1 ratio favored advancers.
The S&P 500 posted 21 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 80 new highs and 39 new lows.
Volvo announces plans to export China-made electric car
Honda Motor Co. will show its new NeuV, a futuristic concept vehicle the company has suggested might get an electric drivetrain. According to management consulting firm McKinsey, 43 percent of the 870,000 electric cars produced in 2016 came from China.
U.S. 'sword stands ready', Mike Pence warns North Korea
Is the Korean Peninsula headed for war? About 47,000 U.S. troops are stationed in Japan and a further 28,000 are in South Korea. Pence said Trump was hopeful China would use its influence in the region to pressure the North to abandon its weapons program.
Opec: Oil price recovery seen amid output cuts
WTI crude oil staged a sharp drop down even as U.S. crude oil inventories showed a draw of 1 million barrels as expected. Official U.S. oil data is due to be published on April 19 by the Energy Information Administration (EIA).
Patriots welcomed to White House by Trump
One of Trump's signature "Make America Great Again" hats was spotted in Tom Brady's locker in 2015. In all, 34 Patriots players attended the White House - a comparable number to in years past.
Highlights of Saturday's National Hockey League games
Chicago coasted into the Stanley Cup playoffs after a terrific spring carried them to the best record in the Western Conference. The Blackhawks won four of five in the regular season against Nashville . "Obviously everybody's trying to score that goal".