TODAY'S PAPER
48° Good Afternoon
NEWSDAY DEALS
YOU ARE A DEALS MEMBERVIEW DEALS
48° Good Afternoon
Business

Nasdaq composite notches a record for a second day

A trader works on the floor of the

A trader works on the floor of the New York Stock Exchange Tuesday, Sept. 6, 2016. Credit: Bloomberg News / Michael Nagle

Even on a day when the major U.S. stock indexes barely budged, the market notched another milestone. The Nasdaq composite eked out a gain, pushing the tech-heavy index to its second record-high close in a row.

The Dow Jones industrial average and Standard & Poor’s 500 index drifted in the opposite direction, closing slightly in the red.

ON WALL STREET: At the close, the Dow Jones industrial average was down nearly 12 points, about 0.06 percent, at 18,526.1. The Standard & Poor’s 500 index was off less than a point at 2,186.2. The Nasdaq composite slipped 8 points, about 0.2 percent, to nearly 5,284.

OIL PRICES: As markets closed, the price of U.S. benchmark crude oil was up $1.34 at $46.80 a barrel on the New York Mercantile Exchange. In London, the price of Brent crude, used to price international oils, was up $1.23 at $48.49 a barrel.

ECONOMIC UNCERTAINTY: A run of weak U.S. data has weighed on market sentiment in recent sessions. The soft data has reduced expectations that the Federal Reserve will raise interest rates again soon — a potential boon for stocks. However, worries over the U.S. economy have ratcheted up fears about the outlook and the earning power of companies — and that’s bad for stocks. On Wednesday, investors got a dash of encouraging news: The Labor Department said job openings jumped 4 percent in July. Another government report last Friday showed that employers pulled back on hiring in August.

Comments

We're revamping our Comments section. Learn more and share your input.

More news