Published: Wed, August 09, 2017
Tech | By Constance Martin

Stock Futures Lower With Dow's Record Streak Under Threat Again

Stock Futures Lower With Dow's Record Streak Under Threat Again

Stocks opened the week on a positive note as the Dow notched its ninth consecutive record closing high and the S&P 500 posted a new record high for the first time since July 26, while the Nasdaq did not hit a record but still outpaced its peers for the day.

Seven of the 11 major S&P sectors were higher, with the financial index's 0.40 percent rise leading the advancers.

"We have strong earnings that is helping the market", said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group.

The index is ending up 25.61 points or +0.12%.

Macy's, Kohl's, JC Penney are expected to report results this week, with Wal-Mart, Target due next week.

Oil prices edged lower on Monday, sliding away from nine-week highs, as worries lingered over high production from OPEC and the United States. Anadarko Petroleum lost 1.1 percent.

In Europe, London's commodities-heavy FTSE 100 index of major blue-chip firms stocks ended the day with a 0.1 percent gain. The Nasdaq composite gave up 13 points, or 0.2 percent, to 6,369.

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Meanwhile, investors will continue to closely track the second-quarter earnings season to see if pricey valuations are justified.

Stocks are little changed in early trading as technology companies rise and energy companies slip with the price of oil. Tyson Foods gained 4.8 percent as its forecasts pleased investors.

Aviation electronics company Rockwell Collins climbed 5.4 percent after Reuters reported that rival United Technologies made an offer to buy it.

The Standard & Poor's 500 index was unchanged at 2,476.

According to data from FactSet last week, earnings in the second quarter grew 10.1 per cent for the S&P 500, higher than the estimated earnings growth rate of 6.4 per cent.

The Dow Jones industrial average lost 7 points to 22,085.

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