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Dow, S&P 500 Close at Record High Amid Data, Earnings-July 14
 

The Dow and S&P 500 closed at record high on Friday as investors digested a batch of economic data and quarterly earnings of major banks.

The Dow Jones Industrial Average added 84.65 points, or 0.39 percent, to 21,637.74. The S&P 500 gained 11.44 points, or 0.47 percent, to 2,459.27. The Nasdaq Composite Index increased 38.03 points, or 0.61 percent, to 6,312.47.

On the economic front, retail sales and consumer inflation for June are both disappointing.

The Consumer Price Index for All Urban Consumers was unchanged in June on a seasonally adjusted basis, the labor department reported on Friday. Over the last 12 months, the all items index rose 1.6 percent.

The index for all items less food and energy rose 0.1 percent in June, its third straight such increase.

Advance estimates of U.S. retail and food services sales for June 2017, adjusted for seasonal variation and holiday and trading-day differences but not for price changes, were 473.5 billion U.S. dollars, a decrease of 0.2 percent from the previous month, and 2.8 percent above June 2016, said the commerce department.

In corporate news, JPMorgan Chase reported quarterly net income of seven billion U.S. dollars, up 13 percent year-on-year. Earnings per share were 1.82 dollars, or 1.71 dollars excluding a gain from a legal settlement, far higher than market estimates.

Wells Fargo reported second-quarter diluted earnings per share of 1. 07 dollar, beating Wall Street expectation. But its revenue came in at 22.17 billion dollars, lower than market expectation.

The Citigroup posted earnings per share of 1.28 dollars on revenue of 17.9 billion dollars, topping analyst expectations.


(www.chinaview.cn 2017-07-17)
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