Share

US stocks dip on mixed earnings

New York - Wall Street stocks opened lower on Thursday following mixed earnings and government data that showed the US economic rebound in the second quarter was slightly lower than expected.

Five minutes into trade, the Dow Jones Industrial Average stood at 17 712.21, down 0.22%.

The broad-based S&P 500 dipped 0.26% to 2 103.18, while the tech-rich Nasdaq Composite Index fell 0.26% to 5 098.36.

Dow member Procter & Gamble fell 2.5% after reporting a 79.8% drop in quarterly earnings to $521m on lower sales and a hefty charge on operations in Venezuela.

Food company Mondelez International jumped 4.2% following better-than-expected earnings.

US gross domestic product expanded at an annual rate of 2.3% in the April-June period, the Commerce Department reported, slightly below the 2.5% consensus estimate.

However, Commerce revised up its estimate on the first quarter to growth of 0.6% from a 0.2% contraction.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Voting Booth
Do you think corruption-accused National Assembly Speaker Nosiviwe Mapisa-Nqakula will survive a motion of no confidence against her?
Please select an option Oops! Something went wrong, please try again later.
Results
No, her days are numbered
41% - 507 votes
Yes, the ANC caucus will protect her
59% - 717 votes
Vote
Rand - Dollar
18.90
+0.2%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE