The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed strong economic data against latest batch of corporate earnings.
The Dow Jones, on the other hand was down over 200 points, dragged down by a nearly 3% slide in American Express shares. Meanwhile, Netflix shares slipped 4.8%, despite the company beating expectations on both revenue and earnings per share.
Conversely, Charles Schwab added 2.1% after upbeat earnings and revenue and Chevron was up 1.5% as the company completed the $53 billion Hess acquisition. Overall, about 60 S&P 500 companies have reported so far, with 86% beating analyst expectations.
University of Michigan's July survey, which showed a rise in consumer confidence and a drop in one-year inflation expectations to 4.4%, the lowest since February. The S&P 500 is up 0.8% for the week, with the Nasdaq and Dow gaining 1.8% and 0.2%, respectively.
Source: Trading Economi
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