Wall St ends little changed; Microsoft hits record | Reuters

By Chuck Mikolajczak | NEW YORK NEW YORK The S&P 500 and the Dow were little changed and the Nasdaq advanced on Friday as a record day for Microsoft and earnings from McDonald's helped offset a fall in energy and healthcare shares.General Electric (GE.N), often seen as an economic bellwether, weighed on the market as the industrial conglomerate's posted results that topped expectations but cut its full-year revenue target to send shares down 0.9 percent after it touched an 8-month low of $28.33.A stronger dollar .DXY, which touched its highest level since early February, also pulled on sentiment as it could dent the earnings of large multinationals. 'The dollar is getting stronger, that is going to have a negative impact energy prices, that is going to have a negative impact on corporate earnings, at least potentially,' said Phil Orlando, chief equity market strategist at Federated Investors, in New York. The energy index .SPNY was off 0.7 percent, while health .SPXHC declined 0.9 percent.

Reuters October 22, 2016 02:15:05 IST
Wall St ends little changed; Microsoft hits record
| Reuters

Wall St ends little changed Microsoft hits record
 Reuters

By Chuck Mikolajczak
| NEW YORK

NEW YORK The S&P 500 and the Dow were little changed and the Nasdaq advanced on Friday as a record day for Microsoft and earnings from McDonald's helped offset a fall in energy and healthcare shares.General Electric (GE.N), often seen as an economic bellwether, weighed on the market as the industrial conglomerate's posted results that topped expectations but cut its full-year revenue target to send shares down 0.9 percent after it touched an 8-month low of $28.33.A stronger dollar .DXY, which touched its highest level since early February, also pulled on sentiment as it could dent the earnings of large multinationals. "The dollar is getting stronger, that is going to have a negative impact energy prices, that is going to have a negative impact on corporate earnings, at least potentially," said Phil Orlando, chief equity market strategist at Federated Investors, in New York. The energy index .SPNY was off 0.7 percent, while health .SPXHC declined 0.9 percent. Johnson & Johnson

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

also read

Earthquake: Strong quakes of magnitude 6.1 and 6.2 rock Hawaii
World

Earthquake: Strong quakes of magnitude 6.1 and 6.2 rock Hawaii

The US Geological Survey says the first quake struck about 17 miles south of Naalehu and the second earthquake struck about 20 minutes later in the same area

US officer's quick response saves colleague's life from careening car; watch viral video here
World

US officer's quick response saves colleague's life from careening car; watch viral video here

The driver who was involved in this incident was later issued a citation for failing to maintain proper control of his vehicle. Both the officers will return to their regular duty very soon.

No rush in officially recognising Taliban's rule in Afghanistan, says Russian president Vladimir Putin
World

No rush in officially recognising Taliban's rule in Afghanistan, says Russian president Vladimir Putin

Russia is set to host the Taliban and other Afghan factions for talks Wednesday in a move that reflects Moscow’s efforts to expand its clout