Merchants work on the ground of the New York Inventory Trade (NYSE) on July 10, 2019.
Spencer Platt | Getty Photos
Dow Jones Industrial Common falls 9 factors
The Dow fell 9.77 factors, or 0.03% to 29,286.27. The S&P 500 superior 0.03% to finish the day at 3,321.7. The Nasdaq Composite closed 0.14% increased at 9,383.77. Sturdy earnings from IBM sparked a rally in tech shares, which lifted the S&P 500 and Nasdaq to file highs.
IBM earnings spark tech rally
IBM posted a revenue of $4.71 per share on income of $21.77 billion. Analysts polls by Refinitiv anticipated earnings per share of $4.69 on income of $21.64 billion. This propelled not solely a bounce within the inventory, but additionally positive aspects within the broader tech sector. IBM added to what has already been a powerful begin to the earnings season. Nevertheless, some traders fear the market could also be overly optimistic over the prospect of additional positive aspects. If euphoria takes over the market, it might ultimately result in a steep downturn.