US STOCKS-Dow, S&P 500 edge lower after hitting intraday records
* D.R. Horton advances after incomes
* Veterans Day vacation curbs volume
* Dow off 0.1 pct, S&P down 0.03 pct, Nasdaq up 0.1 pct (Updates to late afternoon)
By Caroline Valetkevitch
New York City, Nov 11 (Reuters) – The Dow and also S&P 500 inchedlower late Tuesday mid-day after both indexes took care of to touchfresh intraday records for a fifth straight session in earlytrading.
Amongst the S&P 500’s largest portion decliners, the stockof Juniper Networks (NYSE: JNPR – information) fell 4.5 percent, a day after thecompany’s leader surrendered following a board assessment ofhis conduct in a negotiation with a client.
The benchmark S&P index had actually set its 39th new closing highfor the year on Monday, versus 45 such highs in 2013. The lasttime the index shut at a document for 4 consecutive days wasin June, while its last five-day streak was in Might 2013.
The S&P 500 has actually rallied greater than 9 percent from a six-monthlow in October, buoyed by supportive economic data and also solidcorporate earnings reports. For the year, the index is up over10 percent.
The marketplace is likely stopping briefly as third-quarter incomes winddown, yet the duplicated brand-new highs could suggest stocks will certainly end theyear on a good note, claimed Bruce Zaro, main technicalstrategist at Bolton Global Property Administration in Boston.
“We’ll likely see much less big up days as well as much less big down days, and also I think market will certainly merely grind higher.”
At 2:50 p.m., the Dow Jones industrial average fell14.96 factors, or 0.08 percent, to 17,598.78, the S&P 500 lost 0.61 factors, or 0.03 percent, to 2,037.65 as well as the NasdaqComposite added 2.48 factors, or 0.05 percent, to4,654.09.
Amongst the day’s gainers, D.R. Horton increased 2.5 percent. The largest U.S. homebuilder reportedbetter-than-expected quarterly profits and stated orders leapt 38percent, proposing an uptick in housing demand.
Activity was light because of the united state Veterans Day holiday.
Wire suppliers continued to be under pressure for a secondstraight session after U.S. President Barack Obama stated onMonday that Access provider ought to be moderated morelike public energies. Comcast was down 0.2 percentand amongst the day’s most definitely trades shares.
Declining concerns surpassed advancing ones on the NYSE by1,607 to 1,422, for a 1.13-to-1 ratio on the disadvantage; on theNasdaq, 1,492 issues dropped and 1,155 progressed for a 1.29-to-1ratio. (Additional reporting by Chuck Mikolajczak; Editing by NickZieminski)
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