U.S. stocks were little changed on Thursday as investors paused following a two-day rally that pushed the Dow Jones Industrial Average above the 20,000 mark, while the latest wave of earnings rolled in. Bobbi Rebell reports.
The Dow holding above the 20,0000 level, climbing just a bit higher in Thursday's session. Investors paused following a two-day rally that pushed the Dow past that benchmark, while the latest wave of earnings rolled in. David Nelson of Belpointe: SOUNDBITE: DAVID NELSON, CHIEF STRATEGIST, BELPOINTE ASSET MANAGEMENT, (ENGLISH) SAYING: "I'm encouraged right now. The underpinnings of the market, not just here in the United States, but globally we are starting to see almost a global rally at this point. After the closing, bell Alphabet missing earnings estimates despite a rise in ad revenue. Microsoft profits rose powered by a surge for the company's flagship platform Azure. Intel reported a an almost ten percent jump in quartely revenue, boosted by a stabelizing PC market. During the regular trading day, Royal Caribbean Cruises jumped nine percent after it forecast higher-than-expected adjusted earnings for 2017 Qualcomm weighed on both, the S&P 500 and Nasdaq, as the chipmaker fell five percent after posting a lower-than-expected rise in quarterly revenue. In Europe, the major country indexes closed mixed despite optimism about mergers and aquisitions.