DJI are on course for weekly declines after four straight weeks of gains as the latest worries over tax hikes and a resurgence in global coronavirus cases dulled sentiment. SPX and the Dow Jones Industrial Average. "The focus is still on whether or not this market is in the early stage of correction." Right now, there's nothing definitive on the part of administration," said Robert Pavlik, senior portfolio manager at Dakota Wealth. "Yesterday was a knee-jerk reaction to the proposal. President Joe Biden's plans to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains. Wall Street's main indexes sank nearly 1% on Thursday following reports of U.S. Honeywell International HON.N fell 2.7% after it missed revenue estimates for its aerospace division, its biggest business segment. SPLRCS were among top decliners.Įarnings on the day were lackluster, with American Express Co AXP.N sliding 3.4% after reporting a slump in credit spending and lower quarterly revenue.
Honeywell s&p 500 series#
manufacturing PMI increased to 60.6 in the first half of this month, the highest reading since the series started in May 2007.Įight out of the 11 major S&P 500 sectors traded higher in the first half hour of trading, with technology. * Dow flat, S&P up 0.38%, Nasdaq up 0.66% (Updates prices to open)īy Shivani Kumaresan and Shreyashi SanyalĪpril 23 (Reuters) - The S&P 500 and the Nasdaq indexes edged higher on Friday after a rise in factory activity in April supported bets of swifter economic recovery, while a fall in shares of American Express and Honeywell kept the blue-chip Dow under check.ĭata firm IHS Markit said its flash U.S.
* Honeywell down on aerospace unit revenue miss
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