US open: Stocks edge up despite soft housing data, Goldman’s results

by | Jul 19, 2023

(Sharecast News) – Stocks in the US were again trading on the front foot despite the release of weaker-than-expected second quarter earnings out of Goldman Sachs.
As of 1541 BST, the Dow Jones Industrials was adding 0.55% to 35,142.90, alongside a 0.4% gain for the S&P 500 to 4,574.0 and the Nasdaq Composite was also 0.4% higher to 14,410.82.

Yields on benchmark 10-year US Treasuries were little changed at 3.785%.

Goldman Sachs shares were trading 1% higher despite having posted a sharp drop in second quarter earnings due to a couple of extraordinary charges.

However, the lender’s topline beat analysts’ estimates and Goldman hiked its quarterly dividend by 10%.

U.S. housing starts fell by 8.0% month-on-month in June to reach an annual rate of 1.434m (consensus: 1.48m), the Department of Commerce reported.

However, Kieran Clancy at Pantheon Macroeconomics believed that total residential construction spending was still set to rise over the next few months, thanks to a rebound in new home sales.

Dow Jones – Risers

Verizon Communications Inc. (VZ) $33.89 5.02%
Salesforce.Com Inc. (CRM) $235.18 3.32%
Unitedhealth Group Inc. (UNH) $509.36 1.87%
Walt Disney Co. (DIS) $87.40 1.69%
Goldman Sachs Group Inc. (GS) $342.54 1.56%
Cisco Systems Inc. (CSCO) $51.94 1.37%
Coca-Cola Co. (KO) $61.34 1.27%
Chevron Corp. (CVX) $155.20 0.94%
Walgreens Boots Alliance, Inc. (WBA) $29.85 0.91%
Home Depot Inc. (HD) $319.55 0.88%

Dow Jones – Fallers

Caterpillar Inc. (CAT) $261.15 -1.01%
Nike Inc. (NKE) $109.12 -0.55%
Microsoft Corp. (MSFT) $357.73 -0.49%
Apple Inc. (AAPL) $192.81 -0.47%
Boeing Co. (BA) $210.87 -0.33%
Walmart Inc. (WMT) $154.08 -0.32%
Dow Chemical Co. (DOW) $52.86 -0.23%
JP Morgan Chase & Co. (JPM) $153.66 0.00%
Dowdupont Inc. (DWDP) $0.00 0.00%
Intel Corp. (INTC) $34.53 0.09%

S&P 500 – Risers

CenturyLink Inc. (LUMN) $1.92 18.52%
Northern Trust Corp. (NTRS) $80.36 12.07%
AT&T Inc. (T) $14.51 7.84%
Elevance Health Inc. (ELV) $470.30 6.00%
Verizon Communications Inc. (VZ) $33.89 5.02%
Dish Network Corp. (DISH) $7.07 4.98%
Zions Bancorporation (ZION) $34.00 4.84%
Citizens Financial Group, Inc. (CFG) $30.35 4.28%
Centene Corp. (CNC) $69.08 4.15%
Advance Auto Parts (AAP) $71.98 3.85%

S&P 500 – Fallers

Omnicom Group Inc. (OMC) $87.48 -10.66%
Interpublic Group of Companies Inc. (IPG) $38.36 -6.16%
Align Technology Inc. (ALGN) $342.84 -4.93%
KLA-Tencor Corp. (KLAC) $471.36 -2.62%
Lam Research Corp. (LRCX) $641.69 -2.17%
Tapestry Inc. (TPR) $42.47 -2.05%
Nucor Corp. (NUE) $167.84 -2.01%
Universal Health Services Inc. (UHS) $150.06 -1.94%
Coty Inc. Class A (COTY) $12.24 -1.84%
FMC Technologies Inc. (FTI) $17.72 -1.69%

Nasdaq 100 – Risers

Dish Network Corp. (DISH) $7.07 4.98%
Qurate Retail Inc. (QRTEA) $1.08 4.37%
Illumina Inc. (ILMN) $185.65 2.95%
QUALCOMM Inc. (QCOM) $126.43 2.90%
J.B. Hunt Transport Services Inc. (JBHT) $192.73 2.42%
Autodesk Inc. (ADSK) $222.22 2.29%
Workday, Inc. (WDAY) $233.40 2.21%
Intuit Inc. (INTU) $505.48 2.03%
Vodafone Group Plc ADS (VOD) $9.56 1.92%
Liberty Global plc Series A (LBTYA) $18.75 1.82%

Nasdaq 100 – Fallers

Align Technology Inc. (ALGN) $342.84 -4.93%
Asml Holdings N.V. (ASML) $726.64 -4.01%
KLA-Tencor Corp. (KLAC) $471.36 -2.62%
Lam Research Corp. (LRCX) $641.69 -2.17%
Intuitive Surgical Inc. (ISRG) $349.22 -1.61%
Applied Materials Inc. (AMAT) $142.62 -1.31%
PACCAR Inc. (PCAR) $88.43 -1.11%
Booking Holdings Inc. (BKNG) $2,952.51 -0.98%
Microchip Technology Inc. (MCHP) $92.49 -0.91%
Cintas Corp. (CTAS) $499.28 -0.88%

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