US Stock Indexes Finished Broadly Lower On Light Volume
$ITB, $AAPL, $C, $GS, $DB, $LEN, $NFLX
DJIA +0.8% YTD, NAS 100 +8.2% YTD, S&P 500 +2.4% YTD, Russell 2000 +6.6% YTD
DJIA -178.00 at 17966.07, NAS 100 -37.68 at 5122.41, S&P 500 -15.62 at 2108.58
Volume: Trade was light with about 720-M/shares changing hands on the NYSE
The US stock market finished lower Wednesday, the S&P 500 lost 0.7% and turned negative on the week (-0.1%).
The International Monetary Fund (IMF) rejected Greece’s restructuring proposal. According to Greek Prime Minister Alexis Tsipras, this was the 1st time the IMF did not accept equivalent fiscal measures proposed by Greek officials.
Carl Icahn liquidated his entire stake in Netflix (NASDAQ:NFLX) 678.61, -2.58 Wednesday. Netflix announced a 7:1 stock split Tuesday evening.
Trade in Global Markets with the World’s Leading Platform Open an account here , call us at 305 490 4116, or email us to get started.
The consumer discretionary stock sector (-0.7%) settled in-line with the S&P 500
Lennar (NYSE:LEN) 51.05, +2.05, or + 4.2% after reporting better than expected results.
iShares Dow Jones US Home Construction ETF (NYSEArca:ITB) 27.92, +0.24, or + 0.9%.
Energy (-0.6%) and technology (-0.4%) ended ahead of the S&P 500.
The technology stock sector owed its outperformance to Apple (NASDAQ:AAPL) 128.18, +1.15, or + 0.9%.
The financial stock sector (-0.9%) under performed the day
Citigroup (NYSE:C) 56.66, -0.73) and Goldman Sachs (NYSE:GS) 214.43, -3.97, losing 1.3% and 1.8%, respectively; both were downgraded to ‘Hold’ at Deutsche Bank (NYSE:DB)
The industrial stock sector (-0.9%) spent the day among the laggards, transport stocks struggled. The Dow Jones Transportation Average lost 1.9%, narrowing its June gainer to 0.1%.
The countercyclical stock sector
Healthcare (-1.0%), telecom services (-0.8%), and utilities (-0.8%) ended behind the broad market.
US Treasuries finished on highs, pushing the 10-yr yield lower by 4 bpts to 2.37%.
Economic data
- First quarter GDP declined 0.2% in the third estimate, up from a previously reported 0.7% decline in the second estimate, which is what the Briefing.com consensus expected
- The weekly MBA Mortgage Index rose 1.6% to follow last week’s 5.5% decline
Thursday
Weekly Initial Claims (consensus 271-K) and May Personal Income/Spending data will be released at 8:30a EDT.
Stay tuned…
HeffX-LTN
Paul Ebeling
The post US Stock Indexes Finished Broadly Lower On Light Volume appeared first on Live Trading News.