40° Good Morning
40° Good Morning

Dow average ends a 10-day winning streak

Traders Gregory Rowe, left, Tommy Kalikas, center, and

Traders Gregory Rowe, left, Tommy Kalikas, center, and specialist Edward Loggie on the floor of the NYSE Aug. 2, 2017.  Credit: AP / Richard Drew

Stocks are ending slightly lower on Wall Street, ending a 10-day winning streak for the Dow Jones industrial average.

The market was higher at lunchtime but veered lower in the afternoon Tuesday.

Health care and technology companies were among the biggest decliners, outweighing gains in utilities stocks.

Energy stocks also fell along with the price of crude oil.

The declines accelerated slightly in the last half-hour of trading as President Donald Trump denounced North Korea’s nuclear program.

The Standard & Poor’s 500 index fell 6 points, or 0.2 percent, to 2,474.

The Dow lost 33 points, or 0.2 percent, to 22,085. The Nasdaq composite fell 13 points, or 0.2 percent, to 6,370.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.29 percent.

LOOKING GOOD: Michael Kors climbed 21.9 percent after the luxury handbag and apparel designer and retailer’s latest quarterly results beat analysts’ forecasts as sales improved. The stock was the biggest gainer in the S&P 500, adding $8.17 to $45.40.

FASHIONABLE RESULTS: Investors cheered Ralph Lauren’s latest quarterly results, sending the designer clothing company’s shares up $8.59, or 11 percent, to $86.74.

BANK ON THIS: LendingClub surged 10.9 percent after the peer-to-peer lender’s second-quarter earnings exceeded financial analysts’ forecasts. The stock gained 59 cents to $6.06.

NO ALARM: Envision Healthcare was up 4.5 percent after the ambulatory surgery center company said it will sell its medical transportation business to KKR. The stock added $2.45 to $57.50.

IN A SKID: Avis Budget Group slumped 6.8 percent after the car rental company cut its guidance following a weak second quarter. The stock fell $2.27 to $31.13.

FLOUNDERING: SeaWorld Entertainment slid 4.3 percent after the theme park operator reported second-quarter revenue that fell short of Wall Street’s expectations. The stock fell 59 cents to $13.02.

MALL RATS: Several real estate investment trusts that own malls were trading lower. Simon Property Group fell $3.51, or 2.1 percent, to $162.86, while Macerich slid $1.28, or 2.1 percent, to $59.33.

OIL: Benchmark U.S. crude fell 35 cents to $49.04 a barrel on the New York Mercantile Exchange. It fell 19 cents, or 0.4 percent, to $49.39 per barrel Monday in New York. Brent crude, the international standard, lost 28 cents to $52.09 a barrel in London.

CURRENCIES: The U.S. dollar weakened to 110.35 yen from 110.72 yen late Monday. The euro slid to $1.1760 from $1.1793.

BONDS: Bond prices fell. The yield on the 10-year Treasury note rose to 2.27 percent from 2.26 percent late Monday.

MARKETS ABROAD: In Europe, Germany’s DAX rose 0.3 percent, while France’s CAC 40 added 0.2 percent. Britain’s FTSE 100 added 0.1 percent. In Asia, markets were mostly lower after disappointing Chinese trade data. Japan’s Nikkei 225 slipped 0.3 percent, while Australia’s S&P/ASX 200 lost 0.5 percent. South Korea’s Kospi fell 0.2 percent. Hong Kong’s Hang Seng added 0.6 percent.

More news