Wednesday, July 30th33.8°C
21450
21755

US stocks turn lower as technology sector declines; CarMax skids on profit slump

NEW YORK, N.Y. - Stocks are turning lower on Wall Street in midday trading, erasing an early gain.

The Standard & Poor's 500 index fell seven points, or 0.4 per cent, to 1,881 as of noon (1600 GMT) Friday. The Dow Jones industrial average fell 32 points, or 0.2 per cent, to 16,539.

Technology stocks fell sharply, pulling the Nasdaq composite index lower. The Nasdaq dropped 72 points, or 1.7 per cent, to 4,249.

The market opened slightly higher as traders were encouraged by news that U.S. employers added to their payrolls last month. The overall report was mixed, however, and the unemployment rate remained steady at 6.7 per cent.

CarMax slumped 3 per cent after the used car seller said its quarterly income fell as the effects of an accounting correction offset higher vehicle demand.

The Canadian Press


Read more Business News

22563


Recent Trending




Today's Market
S&P TSX15524.82+78.271
S&P CDNX1011.10-5.40
DJIA16880.36-31.75
Nasdaq4462.902+20.204
S&P 5001970.07+0.12
CDN Dollar0.9170-0.0001
Gold1310.00+6.70
Oil99.52-0.75
Lumber328.70+6.40
Natural Gas3.73-0.017

 
Okanagan Companies
Pacific Safety0.1850.00
Knighthawk0.01-0.005
QHR Technologies Inc1.22+0.02
Cantex0.085+0.02
Anavex Life Sciences0.26-0.0075
Metalex Ventures0.08-0.005
Russel Metals35.22-0.07
Copper Mountain Mining2.83-0.03
Colorado Resources0.22-0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.03-0.005
Mission Ready Services0.15-0.005

 



21623

FEATURED Property
2007909214 - 2440 Old Okanagan Hwy.
4 bedrooms 3 baths
$298,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22758