Dow closes at a new record. S&P closes less than 1% from record high | Forexlive
The US major stock indices are closing mixed.
The Dow industrial average and closing at a record closing level.
The S&P index is closing around 0.6% from a record closing level and is now up 6 consecutive days.
The NASDAQ index is closing lower and snapped a 5-day winning streak.
Shares of Apple led the decline with a fall of -2.78% on reports the orders for the new iPhone were not great.
The final numbers are showing:
- Dow industrial average closed higher by 228.30 points or 0.55% at 41622.08
- S&P index closed up 7.07 points or 0.13% at 5623.09
- NASDAQ index fell -91.85 points or -0.52% at 17592.13
The small-cap Russell 2000 rose 6.679 points or 0.31% at 2189.16
Shares of Intel are up after the close after announcing an expanded strategic collaboration with Amazon AWS, helping to advance US based chip manufacturing. They will also establish an Intel foundry as an independent unit.
Shares are up 8.46% at $22.60 but for the year are down some -58% (at the closing levels today of $20.91). The end of 2023 level was at $50.25. The share price is at the lowest level since 2013.
Of course, Intel is benefitting from a government funds via the Chips Act. Thank goodness for the need to create US based chips.
They were once the preeminent innovator and chip manufacturer not only in the US but the world, and they took their eye off the innovation ball.