Stocks close mixed as tech continues gains

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 8, 2018. REUTERS/Brendan McDermid

Stocks were mixed Thursday. Technology and retail companies gained, while the energy and financial sectors slipped. The dollar rallied amid sharp declines in emerging-market currencies, and Treasury yields fell. 

Here’s the scoreboard:

Dow Jones industrial average25,508.96 −74.79 (-0.29%)

S&P 5002,856.82 −0.88 (-0.031%)

Nasdaq Composite: 7,902.62 +14.29 (+0.18%)

  1. Washington and Ankara remain at oddsTurkish officials returned from meetings with a delegation from the US Treasury and State Department without any resolution to a conflict over Turkey’s detention of several Americans and other issues. Strained relations between the NATO allies sent the lira to an all-time low. 
  2. US business inflation moderated last monthThe Labor Department said the producer price index, which gauges the prices businesses receive for their products, was mostly unchanged in July. Still, data showed that core PPI, a measure of underlying inflation excluding food and energy costs, pushed 0.3% higher last month, the same as in June.
  3. Earnings season rolls on. Roku crushed Wall Street expectations. Viacom missed. In a report that came out a day late, Booking Holdings lowered its outlook. Tronc and Dropbox report after the bell — follow Business Insider here for live updates. 

And a look at the upcoming economic calendar:

  • The US releases the consumer-price index. 
  • GDP and trade numbers are out in the UK.

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Read the full article from it’s original source: http://uk.businessinsider.com/stocks-close-mixed-as-tech-continues-gains-2018-8

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