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Dow, S&P finish flat

Thursday, June 08, 2017 - 01:31

The Nasdaq closed at a record high, but the Dow and S&P 500 ended flat Thursday after ex-FBI director James Comey testified before a Senate committee. Fred Katayama reports.

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Wall Street rose after former FBI director James Comey testified before a Senate committee but ended Thursday flat. The Nasdaq closed at a record high. Financials and materials stocks among the leading gainers. Comey said he had no dobut Russia interefered with the U.S, presidential election. Bruderman Brothers' Oliver Pursche: SOUNDBITE: OLIVER PURSCHE, CEO, BRUDERMAN BROTHERS, (ENGLISH) SAYING: "The good news: markets like no surprises. And today, you saw no surprises. Director Comey released his free formatted notes yesterday, and essentially his testimony today mirrored what was in those notes and so there were no surprises." Nordstrom shares surged, making it the S&P's top gainer. The family that controls the namesake department store chain is considering taking the company private. That news also drove up shares of traditional retailers Macy's and Kohl's. Alibaba rallied. The Chinese e-commerce giant forecast revenue growth as high as 49 percent in the 2018 fiscal year. That would be slower than the 56 percent growth in the prior year. A source says Verizon wil cut about 2,000 jobs next week. That's when it's set to close its acquisition of Yahoo's core assets. Valeant Pharmaceuticals shares rose. The struggling drug maker is selling its iNova Pharmaceuticals business for $930 million to cut its debt. In economics news, the number of Americans filing for jobless benefits fell last week. That suggests the labor market is tightening. In Europe, declines in consumer and telecom stocks pressured shares. But the German Dax closed higher.

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Dow, S&P finish flat

Thursday, June 08, 2017 - 01:31