Saturday, 13 August 2016

Wall St. ends little changed though Nasdaq hits record high close

The Dow and S&P 500 eased from record highs on Friday as tepid data dampened investor confidence in the economy's expansion, while the Nasdaq inched up to a second straight record high close.

Among the S&P 500's biggest drags was Dow Chemical <DOW.N>, which fell 2.4 percent to $52.33, while DuPont <DD.N> declined 1.9 percent to $67.66, a day after European Union regulators opened a full investigation of their $130 billion merger agreement.

The S&P materials index <.SPLRCM>, down 1.2 percent, led sector declines in the benchmark index.

Economic data showed U.S. retail sales growth was unexpectedly flat in July as people cut back on buying clothes and other goods, while the producer price index fell 0.4 percent in July, the biggest drop in nearly a year.

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