New York report: S&P slips from its record high

THE S&P 500 snapped a four-day winning streak last night and pulled back from Monday’s record closing high, while healthy earnings from United Technologies gave the Dow a slight lift.

Earnings as a whole, though, were lukewarm and held back the broader market. Technology shares weighed on the S&P 500 and the Nasdaq. Yet Apple’s stock shot up 5.1 per cent in extended-hours trading after it reported slightly better-than-expected fiscal third-quarter revenue of $35.3bn on solid sales of its flagship iPhone.

At the close, the Dow Jones Industrial Average had risen 22.19 points, or 0.14 per cent, to end at 15,567.74. The Standard & Poor’s 500 Index was down 3.14 points, or 0.19 per cent, to 1,692.39. The S&P 500 has gained 18.7 per cent so far this year. The Nasdaq Composite Index fell 21.11 points yesterday, or 0.59 per cent, to close at 3,579.27.