US close: Markets little changed on Black Monday anniversary
Wall Street's main averages finished mixed but little changed on Thursday, as traders booked some profits on the 30th anniversary of the 1987 Black Monday US stock market crash.
The Dow Jones Industrial Average finished up 0.02% at 23,163.04 and the S&P 500 was ahead 0.03% at 2,562.10, while the Nasdaq 100 lost 0.36% to settle at 6,092.62.
On the economic front, initial jobless claims fell by 22,000 over the week ending on 14 October to reach 222,000 - a new cycle low and the least since 1973.
“Once the hurricane distortions fade, we expect the trend in payroll growth to revert to a sustained 200K-plus, which will push the unemployment rate very close to 3.5% by this time next year,” noted Ian Shepherdson at Pantheon Macroeconomics.
The Federal Reserve Bank of Philadelphia's manufacturing sector gauge rose to 27.9 in October from a reading of 23.8 for September, which economists said reflected strength in factory activity outside of those regions impacted by recent hurricanes.
Lastly, the Conference Board's index of leading economic indicators dipped 0.% month-on-month, against a consensus forecast for 0.1%.
On the corporate front, Philip Morris International was in the red by 3.87% after its quarterly earnings and sales missed expectations, but Travelers Companies was in the black by 2.45% after better-than-expected quarterly earnings and revenue.
Elsewhere, Alcoa was 2.53% weaker after its quarterly earnings fell short of analysts’ expectations, while United Continental Holdings flew 12.04% lower despite an earnings beat.
American Express was on the back foot, losing 0.2% despite better-than-expecting earnings and an upgrade to guidance.
So were shares of Hewlett Packard Enterprise, which lost 5.75% after the company's management detailed its outlook for the rest of the year at an Analyst Day meeting.
Genuine Parts Company was another big faller, plunging 8.51% after the parts retailer cut its profit guidance for the full-year.
Verizon Communications was also in focus, rising 1.17% after in-line earnings, while Corbus Pharmaceuticals rocketed 10% on the back of positive results from a phase 2 trial of its autoimmune disease drug.
Dow Jones - Risers
Travelers Company Inc. (TRV) $133.17 3.51%
General Electric Co. (GE) $23.58 1.99%
Verizon Communications Inc. (VZ) $49.23 1.71%
Nike Inc. (NKE) $52.72 1.33%
Johnson & Johnson (JNJ) $142.06 0.89%
International Business Machines Corp. (IBM) $160.93 0.88%
Merck & Co. Inc. (MRK) $63.75 0.84%
Walt Disney Co. (DIS) $99.02 0.78%
3M Co. (MMM) $219.25 0.69%
McDonald's Corp. (MCD) $166.51 0.67%
Dow Jones - Fallers
Apple Inc. (AAPL) $155.98 -2.37%
Procter & Gamble Co. (PG) $91.63 -1.27%
Goldman Sachs Group Inc. (GS) $240.03 -0.84%
Visa Inc. (V) $107.05 -0.46%
Intel Corp. (INTC) $40.09 -0.40%
Boeing Co. (BA) $259.02 -0.38%
Exxon Mobil Corp. (XOM) $82.74 -0.27%
Unitedhealth Group Inc. (UNH) $203.36 -0.26%
American Express Co. (AXP) $91.90 -0.20%
Home Depot Inc. (HD) $163.24 -0.07%
S&P 500 - Risers
Adobe Systems Inc. (ADBE) $171.73 12.24%
Danaher Corp. (DHR) $90.10 4.71%
DaVita Inc (DVA) $58.74 3.98%
Robert Half International Inc. (RHI) $50.92 3.96%
United States Steel Corp. (X) $27.67 3.94%
Ryder System Inc. (R) $82.74 3.68%
Travelers Company Inc. (TRV) $133.17 3.51%
Endo International Plc (ENDP) $7.88 3.01%
Martin Marietta Mtrl (MLM) $209.53 2.97%
H&R Block Inc. (HRB) $25.55 2.86%
S&P 500 - Fallers
United Continental Holdings Inc. (UAL) $59.78 -11.45%
Genuine Parts Co. (GPC) $89.71 -8.50%
Transocean Ltd. (RIG) $10.16 -5.84%
Hewlett Packard Enterprise (HPE) $13.84 -5.27%
Royal Caribbean Cr (RCL) $121.18 -4.75%
Vornado Realty Trust (VNO) $74.85 -4.38%
Dover Corp. (DOV) $89.50 -4.35%
Philip Morris International Inc. (PM) $108.23 -3.92%
Skyworks Solutions Inc. (SWKS) $103.32 -3.75%
Omnicom Group Inc. (OMC) $72.96 -3.48%
Nasdaq 100 - Risers
Adobe Systems Inc. (ADBE) $171.73 12.24%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $204.62 3.15%
Viacom Inc. Class B (VIAB) $26.53 2.75%
Discovery Communications Inc. Class C (DISCK) $18.97 2.37%
Discovery Communications Inc. Class A (DISCA) $20.09 2.34%
Mylan Inc. (MYL) $38.29 2.08%
Gilead Sciences Inc. (GILD) $81.59 1.97%
Dentsply International Inc. (XRAY) $60.67 1.97%
Comcast Corp. (CMCSA) $36.90 1.93%
Express Scripts Holding Co (ESRX) $58.75 1.70%
Nasdaq 100 - Fallers
Ctrip.Com International Ltd. Ads (CTRP) $49.80 -8.24%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $54.17 -5.74%
Skyworks Solutions Inc. (SWKS) $103.32 -3.75%
Liberty Global Plc Lilac Class C (LILAK) $21.31 -3.22%
Mercadolibre Inc. (MELI) $236.00 -2.64%
Apple Inc. (AAPL) $155.98 -2.37%
JD.com, Inc. (JD) $39.38 -2.33%
Liberty Global Plc Lilac Class A (LILA) $21.29 -2.29%
Tesla Inc (TSLA) $351.81 -2.18%
Liberty Global plc Series A (LBTYA) $31.74 -2.04%