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S&P 500, Dow Drop on Earnings Misses; Nasdaq Led by Mylan

July 17, 2023
in Trade Tube
Reading Time: 1 min read
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Benchmark indexes closed mixed Tuesday with the S&P 500 and Dow Jones Industrial Average pressured by a series of poor earnings, while the Nasdaq popped on deals news. Travelers Companies (TRV) was the worst performer on the Dow after first-quarter profit fell 21% on a drop in investment income. DuPont (DD) was also a drag after reporting a sharp decline in sales owing to the negative impact of a stronger dollar. Harley-Davidson (HOG) was the biggest loser on the S&P 500 after reporting a decline in the number of new motorcycles sold over the first quarter. Sports apparel brand Under Armour (UA) tumbled after reporting a 13% decline in quarterly profit.

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