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US open: Stocks mixed following PPI reading
(Sharecast News) - Wall Street trading got off to a mixed start early on Thursday as investors digested another batch of inflation data. As of 1540 GMT, the Dow Jones Industrial Average was up 0.05% at 43,981.47, while the S&P 500 lost 0.05% to 5,982.18 and the Nasdaq Composite came out the gate 0.14% weaker at 19,204.43.
The Dow opened 23.28 points higher on Thursday, modestly extending gains recorded in the previous session as market participants thumbed over last month's consumer price index.
Following yesterday's CPI reading, which came in as expected, Thursday's primary focus will be October's producer price index, US producer prices increased 0.2% month-on-month to 145.62 points, according to the Bureau of Labor Statistics. On an annualised basis, PPI was up 2.4%. Excluding volatile foods, energy, and trade services, so-called core PPI prices increased 3.1% year-on-year.
Elsewhere, Americans lined up for unemployment benefits at a decelerated pace in the week ended 9 November, according to the Labor Department. Initial jobless claims fell by 4,000 to 217,000, better than market expectations for an increase to 223,000 but still the smallest drop since May. Continuing claims fell by 19,000 to 1.87m, while the four-week moving average, which aims to strip out week-to-week volatility, decreased by 6,250 to 221,000.
Still to come, Federal Reserve chairman Jerome Powell will deliver a speech in Dallas at 2000 GMT.
In the corporate space, Disney narrowly beat analysts estimates with its Q3 numbers, reporting revenues of $22.57bn and earnings per share of $1.14, while US fashion retailers Capri and Tapestry were also drawing an amount of investor attention after watchdog the Federal Trade Commission put the kibosh on the pair's proposed merger, and General Mills has agreed to buy Whitebridge Pet Brands' North American premium cat feeding and pet treating business for $1.45bn.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Walt Disney Co. (DIS) $110.90 7.96% Intel Corp. (INTC) $25.28 1.45% JP Morgan Chase & Co. (JPM) $243.67 1.04% Chevron Corp. (CVX) $160.35 1.03% 3M Co. (MMM) $132.50 0.80% American Express Co. (AXP) $289.59 0.68% McDonald's Corp. (MCD) $298.89 0.52% Procter & Gamble Co. (PG) $167.23 0.39% Apple Inc. (AAPL) $225.98 0.38% Goldman Sachs Group Inc. (GS) $596.24 0.34%
Dow Jones - Fallers
Salesforce.Com Inc. (CRM) $331.25 -3.06% Walgreens Boots Alliance, Inc. (WBA) $8.76 -3.05% Amgen Inc. (AMGN) $293.32 -2.69% Cisco Systems Inc. (CSCO) $57.81 -2.31% International Business Machines Corporation (CDI) (IBM) $206.85 -1.93% Johnson & Johnson (JNJ) $151.43 -1.18% Coca-Cola Co. (KO) $62.54 -0.73% Unitedhealth Group Inc. (UNH) $601.60 -0.70% Dow Chemical Co. (DOW) $44.74 -0.56% Home Depot Inc. (HD) $408.99 -0.29%
S&P 500 - Risers
Tapestry Inc. (TPR) $57.16 11.51% Wynn Resorts Ltd. (WYNN) $93.65 9.16% Walt Disney Co. (DIS) $110.90 7.96% Advance Auto Parts (AAP) $43.96 7.36% Charles Schwab Corp. (SCHW) $80.99 3.50% DENTSPLY Sirona Inc. (XRAY) $17.94 3.43% Alaska Air Group Inc. (ALK) $53.34 3.23% Lennar Corp. Class A (LEN) $171.37 3.03% American Airlines Group (AAL) $14.43 3.00% United Airlines Holdings Inc (UAL) $92.08 2.57%
S&P 500 - Fallers
Helmerich & Payne Inc. (HP) $33.65 -7.04% Nektar Therapeutics (NKTR) $1.23 -4.30% CenturyLink Inc. (LUMN) $8.58 -3.49% Salesforce.Com Inc. (CRM) $331.25 -3.06% Walgreens Boots Alliance, Inc. (WBA) $8.76 -3.05% Amgen Inc. (AMGN) $293.32 -2.69% Albemarle Corp. (ALB) $105.60 -2.40% Becton, Dickinson & Company (BDX) $225.83 -2.33% Cisco Systems Inc. (CSCO) $57.81 -2.31% Fortinet Inc. (FTNT) $95.61 -2.31%
Nasdaq 100 - Risers
Wynn Resorts Ltd. (WYNN) $93.65 9.16% NetEase Inc. Ads (NTES) $82.00 7.50% Asml Holdings N.V. (ASML) $705.21 4.72% Liberty Global plc Series A (LBTYA) $12.35 3.82% DENTSPLY Sirona Inc. (XRAY) $17.94 3.43% Sirius XM Holdings Inc (SIRI) $27.39 3.35% Liberty Global plc Series C (LBTYK) $12.60 3.19% American Airlines Group (AAL) $14.43 3.00% Ross Stores Inc. (ROST) $143.82 2.39% Lam Research Corp. (LRCX) $75.27 1.92%
Nasdaq 100 - Fallers
Tesla Inc (TSLA) $317.12 -3.97% Mercadolibre Inc. (MELI) $1,857.04 -3.83% JD.com, Inc. (JD) $34.47 -3.43% Walgreens Boots Alliance, Inc. (WBA) $8.76 -3.05% Amgen Inc. (AMGN) $293.32 -2.69% Trip.com Group Limited (TCOM) $60.42 -2.68% Cisco Systems Inc. (CSCO) $57.81 -2.31% Synopsys Inc. (SNPS) $548.77 -1.65% CSX Corp. (CSX) $35.90 -1.60% Hologic Inc. (HOLX) $78.02 -1.47%
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