Dow and S&P 500 were on a summit run touching record highs before falling back in mixed trading on Tuesday eventually petering out at the close as energy, mining and hotels weigh and as President Donald Trump delivers warning to North Korea in a press briefing late on Tuesday afternoon.
From the top:
- Indexes reverse gains edging lower
- Trump delivers warning to North Korea
- Techs rise but energy sags
- Michael Kors delivers upbeat earnings
The Dow and S&P 500 fell back after touching new record highs in mixed trading on Tuesday. Stocks were all trading lower on the big board and declining issues outpaced advancing by 2.0 to 1. The Dow fell -0.14%, the S&P 500 down -0.24% and Nasdaq -021%.
The market responded to Trump's remarks made in a briefing to reporters according to the New York Times. Trump is reported to have said: "North Korea best not make any more threats to the United States. They will be met with fire and fury like the world has never seen. He has been very threatening beyond a normal state and as I said they will be met with fire and fury and frankly power the likes of which this world has never seen before.”"
- Dow 22,085 -0.14%
- S&P 500 2,474 -0.24%
- Nasdaq 6,370 -0.21%
- Russell 2000 1,410 -0.29%
- NYSE Composite 11,943 -0.47%
- Gold 1,266 +0.13%
- Oil WTI $49 -0.63%
- 10-Year Treasury Yield 2.26% +0.01%
Techs, banks bright spots
Albermarle Corp which manaufactures speciality chemicals dived -6.23% and Brighthouse Financial continued its descent -7.81%.
Meanwhile healthcare/life sciences were up +0.22%. Biopharmaceutical FibroGen, jumped 48% after it announced its second quarter financial results and announced positive top line results for its pulmonary fibrosis Stage 2 trials.