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Dow hits another record

Thursday, August 03, 2017 - 01:16

The blue chip index extended its record setting streak into a seventh day. But energy stocks dragged down the S&P 500 and Nasdaq. Fred Katayama reports.

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A rally in healthcare stocks lifted the Dow to its seventh straight record close. But falling energy stocks weighed on the S&P 500 and the Nasdaq. Runnymede Capital Management's Chris Wang on the day after the Dow hit 22,000: SOUNDBITE: CHRIS WANG, SVP AND RESEARCH DIRECTOR, RUNNYMEDE CAPITAL MANAGEMENT, (ENGLISH) SAYING: "They're just taking a breather. I mean I think it's nice to hear round numbers, but in the long run, it doesn't really have a big impact." Tesla zoomed higher after the electric car maker's quarterly profit more than doubled. Dish Network's shares fell. The satellite TV operator's profit plummeted 90 percent. Aetna's shares jumped. The healthcare insurer's profit surged higher and crushed analysts' estimates. Avon falling. Sheri McCoy will step down next year as CEO amid pressure from activist investor Barington Capital. After the bell, Viacom's shares shot higher. Quarterly profit and revenue rose sharply at the owner of MTV and Paramount. Signs of a tightening job market: The number of Americans filing for unemployment benefits fell last week, and Challenger, Gray & Christmas reports U.S.-based employers announced the fewest number of job cuts since November 2016. Solid earnings lifted European markets but the German DAX closed lower.

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Dow hits another record

Thursday, August 03, 2017 - 01:16