The Jones Industrial Average underperformed as Apple fell for the first time in six days. However, the S&P 500 and the Nasdaq Composite both managed to refresh their respective records. Investors absorb a slew of economic data as well as the progress on the U.S.-China phase-one trade deal.
S&P 500 closed up 0.36% for its fourth straight positive day at a new record close, its 17th this year. It also hit a new intraday all-time high of 3,444.21. S&P 500 is up 6.59% year to date and 57.11% above its 52-week low of 2,191.86 from March 23. Nasdaq Composite closed up 0.76% for its fourth straight positive day at a new record, its 38th this year. Nasdaq also hit a new intraday all-time high of 11,468.28
Nasdaq is up 27.79% this year. Dow closed down 0.21% for its first negative day in four. Dow is down 1.02% this year and it is 4.46% below its intraday all-time high of 29,568.57 from Feb. 12. Six out of 11 sectors were positive Tuesday led by communication services, which gained 0.97%. Three out of 11 sectors closed at multi-year highs: Consumer discretionary and tech hit new records and communication services reached its highest close since 2001. Salesforce pops after earnings beat
Shares of Salesforce jumped 10% in extended trading after the company beat Wall Street expectations for its second quarter. The company reported $1.44 in adjusted earnings per share versus an estimate of $0.67 per share, according to Refinitv. Revenues also beat expectations, coming in at $5.15 billion compared with $4.90.
S&P 500 hits a record at the same time apple drags down dow. The S&P 500 rose for a fourth straight day to hit another record closing high, its 17th this year. The Nasdaq Composite also reached a fresh high on Tuesday, boosted by a 3.4 per cent jump in Facebook shares. The Dow, however, dipped about 60 points as Apple, the gauge’s biggest influencer, snapped a five-day winning streak. The tech giant closed the session down about 0.8 per cent. The analysts said that it plans to have roughly half the flight capacity in the fourth quarter compared to the fourth quarter of the last financial year as travel demand struggles to recover from the pandemic.
