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Equities Mostly Lower as Markets Assess Earnings, GDP Report
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Equities Mostly Lower as Markets Assess Earnings, GDP Report
Jul 25, 2024 1:15 PM

03:51 PM EDT, 07/25/2024 (MT Newswires) -- US benchmark equity indexes were mixed ahead of Thursday's close as traders analyzed the latest corporate earnings and official data showing that the economy grew at a stronger-than-expected rate in Q2.

The Dow Jones Industrial Average was up 0.7% at 40,142.3, while the S&P 500 was down fractionally to 5,422.9. The Nasdaq Composite was down 0.37% to 17,281.4. Among sectors, energy and industrials led the gainers, while communication services and utilities saw the steepest declines.

ServiceNow ( NOW ) and Molina Healthcare ( MOH ) posted better-than-expected second-quarter results, while Ford Motor's ( F ) earnings came in below market estimates.

L3Harris Technologies ( LHX ) and DexCom ( DXCM ) , among others, are scheduled to report results after the closing bell.

The US two-year yield was up 2.5 basis points at 4.44%, while the 10-year rate fell three basis points to 4.26%.

US real gross domestic product rose at an annual rate of 2.8% in the June quarter, according to an advance estimate by the Bureau of Economic Analysis. The consensus was for a 2% gain in a survey compiled by Bloomberg.

West Texas Intermediate crude oil rose 1.1% to $78.44 a barrel.

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