Most U.S. stocks rose following mixed profit reports from big companies and signals that the economy may be cooling, but the worst day for Salesforce’s stock in nearly 20 years helped drag indexes lower.
The S&P 500 sank 0.6% Thursday, even though the majority of stocks across Wall Street rose. The Dow Jones Industrial Average fell 0.9%, and the Nasdaq composite dipped 1.1%.
Salesforce lost a fifth of its value after reporting weaker revenue for the latest quarter than analysts expected. Treasury yields eased in the bond market following weaker-than-expected reports on the job market and overall economy.
On Thursday:
The S&P 500 fell 31.47 points, or 0.6%, to 5,235.48.
The Dow Jones Industrial Average fell 330.06 points, or 0.9%, to 38,111.48.
The Nasdaq composite fell 183.50 points, or 1.1%, to 16,737.08.
The Russell 2000 index of smaller companies rose 20.41 points, or 1%, to 2,056.60.
For the week:
The S&P 500 is down 69.24 points, or 1.3%.
The Dow is down 958.11 points, or 2.5%.
The Nasdaq is down 183.72 points, or 1.1%.
The Russell 2000 is down 13.07 points, or 0.6%.
For the year:
The S&P 500 is up 465.65 points, or 9.8%.
The Dow is up 421.94 points, or 1.1%.
The Nasdaq is up 1,725.73 points, or 11.5%.
The Russell 2000 is up 29.52 points, or 1.5%.