The Dow-Jones index was 0.8 percent lower two hours before closing at 34,833 points. The broad S&P 500 lost 0.3 percent to 4411 points and tech gauge Nasdaq rose 0.2 percent to 14,794 points.
Robinhood managed to draw attention to itself after the price jump the day before. The stock also traded above the offering price of $38 for the first time. The broker gained another 47 percent in market value.
Like many peers, GM was struggling with shortages of parts such as chips. On the other hand, the company sold more of its more expensive pickup trucks and other cars with a higher margin. The automaker did raise its expectations for the full year. The stock was down 9 percent.
Health insurer and pharmacy company CVS Health also provided figures. The company managed to exceed the expectations of experts in terms of profit. In particular, the comparable turnover in the company’s branches rose faster than expected. However, the stock lost almost 3 percent in value.
Other companies that reported figures included food group Kraft Heinz (down 5.1 percent), homeware maker Tupperware (up 7 percent) and video game maker Activision Blizzard (up 4 percent), known for games like Candy Crush and Call of Duty.
A report by paycheck processor ADP found that US companies are having trouble recruiting staff as the economy picks up again and the demand for additional workers increases. Only 330,000 new corporate jobs were created in the United States last month, according to ADP. Economists had expected on average 683,000 new jobs. The June figure was also revised downwards.
The euro was worth $1.1895, against $1.1881 a day earlier. A barrel of US oil was 2 percent cheaper at $ 68.58. Brent oil fell 1.5 percent in price to $70.88 a barrel.
Robinhood steals show on lower Wall Street | Financial
Source link Robinhood steals show on lower Wall Street | Financial