- The S&P 500 SPX climbed around 14 points, or 0.5%, to end near 3,020.
- the Nasdaq jumped around 70 points to close near 8,322.
- The Dow DJIA, -0.29% fell around 79 points, or 0.3%, to close near 27,270.
The S&P 500 and Nasdaq Composite index posted record highs on Wednesday while the was weighed down by losses for Boeing Co. and Caterpillar Inc. after disappointing second-quarter earnings. The S&P 500 SPX climbed around 14 points, or 0.5%, to end near 3,020 while the Nasdaq jumped around 70 points to close near 8,322, a gain of 0.8%. The Dow Jones Industrial Average, DJIA, -0.29% fell around 79 points, or 0.3%, to close near 27,270. Caterpillar Inc. was the worst performer, losing 4.5% on the reporting of second-quarter results. Shares of Boeing Co. dropped 3.1% after reporting a big second-quarter loss.
US data
The IHS Markit’s Flash US PMI fell to its lowest level in nearly a decade dropping from 50.6 in June to 50 in July and Home sales data mixed:
“But this was offset by a lift in the Services PMI which moved up to 52.2 resulting in the Composite PMI moving up a tad to 51.6. US home sales data for June was positive but this was because data for the previous three months were revised down. The annualised rate of 646,000 units is less than was expected. In the UK home loan approval rates lifted in June indicating its housing market may have bottomed out,”
analysts at ANZ Bank explained
DJIA levels
The DJIA index stays confined to familiar ranges. On the upside, bulls can target the record highs and then look beyond there to the 28000 levels. The 1.272% Fibo extensions of the 2019 range comes in the 28820s. On a break to the downside, below the 20-Day moving average at 27000, the 23.6% retracement of the 3rd June low to 12th July recently printed high falls in at 26706 which meets April 23rd and 1st May double-top highs.
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