Wednesday's early afternoon trade: Dow inches up to record-high

Andrew Cummings
October 14, 2017

The Nasdaq Composite reached a new record on Friday as USA stocks closed slightly higher.

Clothing companies and other retailers fell after women's clothing company J. Jill slashed its third-quarter forecast.

AT&T had its worst one-day loss since 2008 after it said lost more satellite and cable TV subscribers in the third quarter. Industrial companies and household goods makers finished higher.

But Wells Fargo tumbled more than 3 per cent, set for its biggest drop since mid-April, after reporting lower-than-expected revenue for the fourth straight quarter due to a decline in mortgage banking revenue. At 12:39 p.m. ET (1639 GMT), the Dow Jones Industrial Average was up 21.42 points, or 0.09 percent, at 22,852.1, the S&P 500 was up 2.12 points, or 0.08 percent, at 2,552.76 and the Nasdaq Composite was up 7.35 points, or 0.11 percent, at 6,594.60. The Dow and S&P 500 edged 0.2% higher.

The gains were led by Apple and Facebook and Microsoft, which rose between 0.45 per cent and 1 per cent. The consumer price index rose 0.6 percent last month, below the expected gain of 0.7 percent.

The Dow is up 67.34 points, or 0.3 percent.

Winners and Losers: After President Donald Trump announced the government would end subsidies to insurers under the Affordable Care Act, health care stocks took a hit including Tenet Healthcare (down 5.10 percent).

NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets.

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