US stocks closed lower on Thursday as investors digested third quarter earnings reports as well as latest economic data. With the S&P 500 up 14 percent in 2017, investors are betting on strong earnings growth across the S&P 500. The S&P 600 Small-Cap Index closed at 909.43 for a loss of 1.11 points or 0.12%.
"Armenpress" reports the value of Dow Jones down by 0.14% to 22841.01 points, S&P 500 down by 0.17% to 2550.93 points, Nasdaq down by 0.18% to 6591.51 points.
Shares of big banks were little changed after mixed reports from Bank of America and Wells Fargo.
Citigroup also posted better-than-expected quarterly results, driven by growth in its global consumer business.
Bank of America, the second-biggest U.S. bank by assets, rose 1.10 per cent after the lender's profit topped estimates due to higher interest rates and a drop in costs.
The Producer Price Index increased 0.4% for the month and 2.6% for the year.
Bulgarian inflation quickens to 2.1 pct y/y in September
Consumer prices edged up 0.2 percent on a monthly basis in September after edging up 0.1 percent in August, the office said. The dollar index, a measure of the greenback's relative strength against a basket of its chief rivals, fell 0.3% to 92.78.
Gains in Wal-Mart and Johnson & Johnson nudged the Dow Jones Industrial Average to another record level on Wednesday, but the broader market was sluggish ahead of big bank earnings.
Still, the data was below estimates on both counts and failed to move year-on-year core inflation for the fifth month, putting no new pressure on the Federal Reserve to tighten borrowing costs.
Winners and Losers: After President Donald Trump announced the government would end subsidies to insurers under the Affordable Care Act, health care stocks took a hit including Tenet Healthcare (down 5.10 percent).
MannKind Corporation (MNKD) while NeuroDerm Ltd. (NDRM)
Equities research analysts forecast that MannKind Corporation will post ($0.95) earnings per share for the current fiscal year. In terms of Buy, Sell or Hold recommendations, Mannkind Corporation (NASDAQ: MNKD ) has analysts' mean recommendation of 3.
$5856: Bitcoin Price Hits New Record High
Some are seeing that the Bitcoin bubble is yet to show more progress before bursting and running towards a downward spiral. There is a rumored bitcoin desk at Goldman Sachs which would be another game changer for the cryptocurrency market.