Stocks Opened Mixed, Nasdaq at a Record High
- Friday, July 17, 2015, 9:56
- Stock Market
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U.S. stocks opened mixed on Friday with the Nasdaq Composite hit an intraday record as tech stocks rallied. The Dow Jones Industrial Average lately fell 64.8 points, or 0.36%, to 18,055.45. The S&P 500 was off by 1.56 points, or 0.07%, to 2,122.73. The Nasdaq Composite rose 27.16 points, or 0.53%, to 5,190.35.
The consumer price index rose a seasonally adjusted 0.3% in June, spurred by rising costs for housing, gasoline and food such as eggs, the government said Friday. Energy prices rose 1.7% and food prices increased 0.3%, the Labor Department said.
New-home construction in the U.S. climbed in June to the second-highest level since November 2007 as builders stepped up work on apartment projects. Housing starts rose 9.8 percent to a 1.17 million annualized rate from a revised 1.07 million in May that was stronger than previously estimated.
General Electric Co (GE.N) raised its 2015 outlook for its industrial manufacturing businesses on Friday as it reported a 5 percent increase in its quarterly industrial profits. GE posted an overall second-quarter net loss of $1.36 billion, or 13 cents per share.
Honeywell International Inc. said it earned $1.22 billion, or $1.51 a share, up from $1.13 billion, or $1.38 a share, in the year-earlier period. Sales eased back to $9.78 billion from $10.25 billion.
The U.S. oil benchmark retreated further Friday, one day after marking its lowest settlement in about three months. August West Texas Intermediate crude was last down 5 cents, or 0.1%, to $50.86 a barrel, after briefly trading as low as $50.67.
German lawmakers overwhelmingly backed Friday a new bailout plan for Greece after Chancellor Angela Merkel warned that the cash-strapped country would face chaos without a deal. Following more than three hours of debate, German lawmakers voted 439-119 in favor of opening detailed discussions on the package.
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