Dow Ends at Record high Apple Drags on SP 500 Nasdaq

first_imgThe Dow ended at a record high on Friday, boosted by IBM, while a rebound in high-growth momentum names helped the broader market.Consumer discretionary shares also lifted the market, with the stock of Gap Inc (GPS.N) up 3.3 percent at $40.52 after the apparel retailer reported upbeat April sales and gave a profit forecast that surpassed Wall Street’s expectations. The S&P consumer discretionary index .SPLRCD was up 0.6 percent.Apple Inc (AAPL.O) was the biggest drag on both the benchmark S&P 500 index and the Nasdaq 100 .NDX on news that it is close to paying a record $3.2 billion for Beats Electronics, an expensive foray into music streaming and headphone gear, two people with knowledge of the matter said.Some analysts questioned whether Beats, valued at $1 billion during its last funding round in September, was worth that price. Apple shares fell 0.4 percent to $585.54.Momentum names advanced, with shares of Gilead Sciences Inc (GILD.O) up 1.3 percent at $79.76. Netflix Inc (NFLX.O) shares rose 2.1 percent to $328.55 after the company increased the price of its most popular video streaming plan by $1 a month.The gains came after a volatile week for those shares. The S&P 500 has alternated between gains and losses each day this week, and the Nasdaq has dropped for three straight sessions – its longest losing streak since early April – as Internet-related stocks came under pressure.Trading was mostly lackluster, with about 5.7 billion shares changing hands on the U.S. exchanges, below the 6.2 billion month-to-date average, according to data from BATS Global Markets.”The volatility and the decline in a lot of growth stuff is wearing people out,” said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. “There’s a lot of trader fatigue.”The Dow Jones industrial average .DJI rose 32.37 points or 0.2 percent, to 16,583.34, the S&P 500 .SPX gained 2.85 points or 0.15 percent, to 1,878.48 and the Nasdaq Composite.IXIC added 20.374 points or 0.5 percent, to 4,071.869.Shares of International Business Machines Corp (IBM.N) rose 0.6 percent to $190.08 and helped lift the Dow to a record close.For the week, the Dow rose 0.4 percent, while the S&P 500 dipped 0.1 percent and the Nasdaq fell 1.3 percent. This marked the Nasdaq’s biggest weekly percentage decline in a month.The Russell 2000 .TOY gained 0.9 percent. Early in the session, it flirted with correction territory, defined as a 10 percent drop from a recent peak. At its session low, the Russell touched 1,091.50, nearly 10 percent below its all-time closing high of 1,208.65 reached on March 4.Healthcare stocks rose, with shares of Merck (MRK.N) up 0.7 percent at $55.21 a day after U.S. health regulators approved a blood-clot prevention drug developed by Merck for use by patients who have had a heart attack or who suffer from blockages in the arteries of the legs. The S&P healthcare index .SPXHC was up 0.6 percent.Among the day’s big decliners, Rocket Fuel Inc (FUEL.O) shares tumbled 21.5 percent to $21.83 after the technology provider for Web-based video advertising forecast current-quarter revenue far below expectations, prompting downgrades from Goldman Sachs and BMO Capital.Advancers outnumbered decliners on the New York Stock Exchange by a ratio of about 17 to 13, while on the Nasdaq, nearly 17 stocks rose for every nine that fell.last_img read more

IS suspect gunned down in India

first_imgA suspected IS operative was killed here in the wee hours of Wednesday after a 11-hour-long anti-terror operation conducted by police’s Anti-Terror Squad (ATS) commandos in India’s Uttar Pradesh.Many efforts to persuade the suspect, who was holed up in a house in Haji colony of Thakurganj area, to surrender went in vain, an official said.After the initial exchange for fire, the ATS commandos lobbed chilly bombs inside the house to incapacitate him, but to no avail.Police teams bored a hole in the roof and blew up the back wall of the building to enter the house.Senior police officials were camping at the site to oversee the operation, which was also being monitored by the Union Home Ministry.Initially, it was suspected that there were two IS operatives inside the house but that turned out to be a false alarm as police found the body of only one. One pistol and a revolver was found in person of Saifullah, the suspect.Earlier, the ATS, based on “concrete” information from intelligence, had gone to apprehend Saifullah, suspected of involvement in a train blast in Madhya Pradesh, when he suddenly opened fire on the team from the house.Following this, ATS commandos returned fire at Saifullah, who was on the first floor.An official at the site had said that they were trying to ensure that he is arrested alive and there is no collateral damage as this is a residential area.“We got a lead on these operatives from outside the state and we are on the trail,” said Additional Director General (Law and Order) Daljeet Chowdhary.At least eight persons were injured in an explosion in a passenger train, going to Ujjain from Bhopal, in Madhya Pradesh’s Shajapur district on Tuesday, authorities said.Sources said the house belonged to Badshah Khan, resident of Malihabad, and the accused had been living there with two others for the past two months. They posed as students and did not mingle with the neighbours, an ATS official told IANS and informed that efforts were now underway to nab the two accomplices who were at large.In a related development, another suspect of a sleeper module has been held from Kanpur by the ATS.Police picked up two suspects from Lakhna in Etawah and three in Kanpur. Following the Lucknow gunfight, an alert has been sounded at the Lucknow International Airport and at prominent railway stations across the state.Police and intelligence officials have been directed to step up vigil and keep a close watch on busy thoroughfares, malls and markets.last_img read more