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Wall Street closes mixed

Wednesday, March 22, 2017 - 01:06

The S&P 500 ended up slightly as investors focused on President Donald Trump's struggle to push through a healthcare bill and snapped up stocks after a steep drop the day before. Fred Katayama reports.

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U.S. stocks ended mixed a day after the major indices posted their biggest one-day loss since before the election. Ronald Sanchez, chief investment officer at Fiduciary Trust: (SOUNDBITE) RONALD SANCHEZ, CHIEF INVESTMENT OFFICER, FIDUCIARY TRUST COMPANY INTERNATIONAL, (ENGLISH) SAYING: "Given the underlying fundamentals here, in the U.S., and the strong global growth that we've experienced, I'm not sure that we see a market move beyond ten percent or what's called the full-blown inflation." Investors are closely watching President Donald Trump's moves regarding his healthcare bill as a prediction on how effective he can be with pushing tax cuts and deregulation. On the trading floor... Apple was higher and gave the biggest boost to the three major indexes. But Nike weighed on the Dow after the world's largest shoe maker missed quarterly revenue estimates. Sears plunged after warning it could go out of business. In economic news... U.S. home resales fell more than expected in February, according to data from the National Association of Realtors. There is a shortage of houses on the market, and that is pushing up prices and sidelining potential buyers. European shares hit a two-week low, extending losses from the previous session.

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Wall Street closes mixed

Wednesday, March 22, 2017 - 01:06