Dow Jones hits intraday high notching its ninth straight record close

Dow Jones hits intraday high notching its ninth straight record close

The market was higher at lunchtime but veered lower in the afternoon Tuesday.

Avis Budget Group fell 5.84% as the vehicle rental company's second-quarter profit missed expectations and the company cut its full-year profit view.

The declines accelerated slightly in the last half-hour of trading as President Donald Trump denounced North Korea's nuclear program.

Goldman Sachs was up 0.77 percent and JPMorgan 0.61 percent. The Nasdaq composite rose 32 points, or 0.5 percent, to 6,383.

US stock indexes rebounded from an early slide and were higher in midday trading.

Shares of United Technologies were down 1.23 percent in premarket trading following a report that the company has submitted an offer to buy aircraft component manufacturer Rockwell Collins.

Luxury handbag and clothing retailer Michael Kors soared 21 percent after reporting a big earnings beat.




The energy sector led the laggards with a 0.9 percent drop as oil prices edged lower on a rebound in production from Libya's largest oil field, along with worries about higher output from OPEC and the United States.

The Dow Jones Industrial Average rose 2.74 points, or 0.01 percent, to 22,095.55.

Second-quarter earnings have grown by 10.1 percent, exceeding S&P Capital IQ predicted earnings of 6.2 percent.

The US performance, which also included a record for the S&P 500, came on a mixed day for European equities as the dollar gave up some of its gains from Friday.

Shanghai stocks were little changed despite the disappointing Chinese trade data. Henry Schein lost 5.1 percent and Microsoft lost 0.6 percent.

The S&P's consumer staples index, up 0.7%, and its technology index, up 0.6% were the benchmark's leading sectors on the day.

Bond prices didn't move much.

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