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New York Report: Quiet day for Wall Street but S&P hits record
WALL Street yesterday ended a quiet session as earnings painted a mixed picture of the economy, though the S&P 500 set another record high.
The Dow Jones industrial average dipped 2.83 points or 0.02 per cent, to end at 17,083.80. The S&P 500 gained 0.97 of a point or 0.05 per cent to 1,987.98. The Nasdaq Composite dropped 1.59 points or 0.04 per cent, to close at 4,472.11.
Facebook jumped 5.2 per cent to $74.98 and hit an intraday record high of $76.74 a day after it reported earnings and revenue that beat expectations.
General Motors fell 4.5 per cent to $35.74 after it reported a much lower second-quarter profit because of numerous recalls and the expected cost of at least $400 million for its victims’ compensation fund.