NEW YORK, July 21 — Wall Street stocks saw a mixed opening today as the Nasdaq rebounded after the prior session's rout, while the Dow was flat as it sought to extend a winning streak.
Disappointing results from Tesla and Netflix had led to deep declines in those two companies' shares Thursday, alongside broad-based weakness among tech giants.
But Apple, Google parent Alphabet and Amazon were all modestly higher early today.
50 Park Investments' Adam Sarhan said the strength in industrials and other non-tech sectors indicates the market "rally is maturing and it's broadening out."
About 15 minutes into trading, the Dow Jones Industrial Average was flat at 35,213.89. The index has risen for the last nine sessions.
The broad-based S&P 500 added 0.3 per cent at 4,549.51, while the tech-rich Nasdaq Composite Index advanced 0.7 per cent to 14,154.89.
American Express shares fell 3.6 per cent after it reported higher profits but also disclosed US$1.2 billion in provisions for credit losses — a sign that more consumers are struggling to pay off credit card bills.
CSX shed 4.2 per cent as it reported a 15 per cent drop in profits to US$1 billion as the freight rail company described intermodal activity as "challenged." — AFP
