Sat, 25 May 2019

NEW YORK, New York - U.S. stocks ended mixed on Thursday as investors fretted over second quarter earnings, oil prices, the state of the economy, the U.S.-China trade relations and a stronger U.S. dollar.

"Second-quarter estimates continue to be reduced. That’s telling you there’s a lot of caution. That’s coming from corporate management teams as they provide guidance and the market is following their lead," Lindsey Bell, investment strategist at CFRA Research in New York told Reuters on Thursday. "We’re still in a wait-and-see mode regarding the direction of the economy so nobody’s willing to go all out in the market right now especially with valuations at a premium."

The Dow Jones Industrial Average closed lower, giving up 134.97 points or 0.51% to finish at 26,462.08.

The Standard and Poor's 500 was little changed, falling 1.08 points or 0.04% to 2,926.17.

The Nasdaq Composite gained 16.67 points or 0.21% to 8,118.68.

On foreign exchange markets the euro and British pound continued their downward spiral.

The heavily weakened euro was last quoted around the New York close at 1.1133.

The British pound fell to a fresh two-month low of 1.2896.

The Japanese yen surprisingly improved, to close out the day around 111.61.

The Swiss franc was little changed at 1.0204.

The Canadian dollar was virtually unchanged at 1.3486, as was the Australian dollar at 0.7014. The New Zealand dollar however gained more than a quarter-of-a-cent to 0.6624.

European markets all closed lower. The FTSE 100 in London lost 0.50%. The German Dax fell 0.25%, while the Paris-based CAC 40 was 0.33% lower.

It was a mixed bag in Asia where the Australian market was closed due to the Anzac Day public holiday.

The Nikkei 225 made gains, adding 0.48%.

In China stocks were lower. The Hong Kong Hang Seng fell 0.86% while the Shanghai Composite did worse, falling 2.43%.

More Omaha News

Access More

Sign up for Omaha News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!