Mid-Afternoon Market Update: Dow Surges 200 Points; RLI Shares Drop On Disappointing Results
April 20, 2017 - 2:30pm
Toward the end of trading Thursday, the Dow traded up 1 percent to 20,609 while the NASDAQ climbed 0.99 percent to 5,921.05. The S&P also rose, gaining 0.88 percent to 2,358.64.
Leading and Lagging Sectors
Thursday afternoon, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from United States Steel Corporation (NYSE: X) and Cliffs Natural Resources Inc (NYSE: CLF).
In trading on Thursday, utilities shares fell by 0.34 percent. Meanwhile, top losers in the sector included Westar Energy Inc (NYSE: WR), down 7 percent, and Companhia de Saneamento Basico (ADR) (NYSE: SBS), down 5 percent.
Verizon Communications Inc. (NYSE: MS) reported weaker-than-expected earnings for its first quarter.
Verizon posted adjusted earnings of $0.95 per share in the quarter on revenue of $29.8 billion; Analysts were expecting the company to earn ...Full story available on Benzinga.com
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