Bulletin
Investor Alert

London Markets Open in:

Market Pulse Archives

Aug. 19, 2020, 4:08 p.m. EDT

Dow ends lower to mark longest string of losses in 2 months and S&P 500, Nasdaq retreat after record highs

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    S&P 500 Index (SPX)
  • X
    NASDAQ Composite Index (COMP)

or Cancel Already have a watchlist? Log In

By Mark DeCambre

The S&P 500 and the Nasdaq finished lower on Wednesday after touching intraday highs during the session and the Dow industrials marked the longest losing skid in more than two months, as investors processed moves for the broader market that have taken it to new heights despite the pandemic. Stocks added to modest declines on Wednesday after the Federal Reserve at 2 p.m. Eastern Time released its minutes from its July 28-29 policy meeting, which showed that the central bank lowered its estimate for economic growth over the second half of the year. Fed officials say that the trajectory of the recovery from depends on the path of the COVID-19 pandemic. "Participants generally agreed that prospects for further substantial improvement in the labor market would depend on a broad an sustained reopening of businesses. In turn, such a reopening would depend in large part on the efficiency of health measures to limit the spread of the virus," the minutes said. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.52% closed off 0.3% at 27,692, matching its longest losing streak for the period ended June 19, according to FactSet data. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.19% finished off 0.4% at 3,375, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +1.64% closed off 0.6% at 11,146. All closing levels are on a preliminary basis. In corporate news, Apple Inc. /zigman2/quotes/202934861/composite AAPL +3.71% briefly touched a market valuation exceeding $2 trillion dollars until pulling back. The move briefly made the iPhone maker the first company in the world to hit such a valuation. Apple shares finished up by about 0.1%. Separately, retailer Target Corp. /zigman2/quotes/207799045/composite TGT -0.62% booked a nearly 13% return after it produced better-than-expected profit and revenue.

Read the full story:
U.S. stocks finish lower after Fed minutes urge Congress for more pandemic aid, underscore challenge to recovery

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,659.11
+139.16 +0.52%
Volume: 434.01M
Oct. 29, 2020 5:17p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,310.11
+39.08 +1.19%
Volume: 2.74B
Oct. 29, 2020 5:17p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,185.59
+180.72 +1.64%
Volume: 2.80M
Oct. 29, 2020 5:16p
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 115.32
+4.12 +3.71%
Volume: 146.13M
Oct. 29, 2020 4:00p
P/E Ratio
35.06
Dividend Yield
0.71%
Market Cap
$1927.91 billion
Rev. per Employee
$1.98M
loading...
/zigman2/quotes/207799045/composite
US : U.S.: NYSE
$ 154.25
-0.96 -0.62%
Volume: 2.16M
Oct. 29, 2020 4:02p
P/E Ratio
22.26
Dividend Yield
1.76%
Market Cap
$77.70 billion
Rev. per Employee
$212,261
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.