30 Jul 2015
US stocks drop in the early session
FXStreet (Mumbai) - The sentiment on the Wall Street has turned slightly risk averse after the report showed the economy picked up pace in the second quarter, increasing the prospects of a rate hike in the US.
The S&P 500 fell 0.58% to 2096.30 and the DJIA dropped 0.54% to 17,655.50. The NASDAQ 100 index fell 0.61% to 4553.82.
Among Dow Jones stocks, United Technologies had edged up 0.89%, followed by a 0.72% rise in Intel. The losing side includes Procter&Gamble; down 4.13%. UnitedHealth is down 1.09%.
Companies scheduled to report during the day include Mondelez International before the bell and Expedia , LinkedIn and Western Union after the close. According to StarMine data, the S&P 500 is trading near 16.9 times forward 12-month earnings, above the 10-year median of 14.7 times.
The GDP report released earlier today showed the economy expanded 2.3% in Q2. The Q1 GDP was revised higher to 0.6% from -0.2%. Other data showed the initial jobless claims stayed below 300K for the 21st consecutive week.
The S&P 500 fell 0.58% to 2096.30 and the DJIA dropped 0.54% to 17,655.50. The NASDAQ 100 index fell 0.61% to 4553.82.
Among Dow Jones stocks, United Technologies had edged up 0.89%, followed by a 0.72% rise in Intel. The losing side includes Procter&Gamble; down 4.13%. UnitedHealth is down 1.09%.
Companies scheduled to report during the day include Mondelez International before the bell and Expedia , LinkedIn and Western Union after the close. According to StarMine data, the S&P 500 is trading near 16.9 times forward 12-month earnings, above the 10-year median of 14.7 times.
The GDP report released earlier today showed the economy expanded 2.3% in Q2. The Q1 GDP was revised higher to 0.6% from -0.2%. Other data showed the initial jobless claims stayed below 300K for the 21st consecutive week.