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Benchmarks ended mixed on Thursday, bringing to an end their record run of consecutive gains. Energy stocks declined, weighing on the broader markets. Only the Dow managed to end the day at a sixth consecutive all-time high. Investors chose to mull over recent gains and offloaded banks which have been the largest beneficiaries of the rally which began after President Trump’s electoral victory. This phase of gains has caused the Dow to accrue 4.3% year-to-date while the S&P 500 is up 4.8% over the same period.

For a look at the issues currently facing the markets, make sure to read today’s Ahead of Wall Street article.

The Dow Jones Industrial Average (DJI) increased marginally, by 7.91 points to close at 20,619.77. The S&P 500 declined 0.1% to close at 2,347.22. The tech-laden Nasdaq Composite Index closed at 5,814.90, also losing 0.1%. The fear-gauge CBOE Volatility Index (VIX) increased 0.8% to settle at 12.06. A total of around 6.9 billion shares were traded Thursday, higher than the last 20-session average of 6.8 billion. Advancers outpaced declining stocks on the NYSE. For 50% stocks that advanced, 46% declined.

Benchmarks Closed Mixed

The Dow Jones Industrial Average (DJI) increased marginally, by 7.91 points to close at 20,619.77. The S&P 500 declined 0.1% to close at 2,347.22. The tech-laden Nasdaq Composite Index closed at 5,814.90, also losing 0.1%. The fear-gauge CBOE Volatility Index (VIX) increased 0.8% to settle at 12.06. A total of around 6.9 billion shares were traded Thursday, higher than the last 20-session average of 6.8 billion. Advancers outpaced declining stocks on the NYSE. For 50% stocks that advanced, 46% declined.

Stocks swung between early gains and losses before closing mostly in the red. During his latest news conference, President Trump said that the Affordable Care Act would be replaced by a new legislation, also to be called Obamacare, triggered the day’s losses. However, this proposed law would come into effect before any of the new administration’s fresh tax proposals come into play. This announcement was the primary trigger for the day’s losses.

Of the three benchmarks, only the Dow closed less than 0.1% higher over the day. The blue-chip index was aided by a 1.9% gain from The Coca-Cola Company (KO - Free Report) . However, the major catalyst for the Dow’s marginal gain was Cisco Systems Inc. ( (CSCO - Free Report) which closed the day 2.4% higher after reporting second-quarter fiscal 2017 earnings of 53 cents per share, beating the Zacks Consensus Estimate by three cents. Cisco Systems possesses a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .

One of the Looking at Q4 as a whole, combining the actual results from the 398 index members with estimates from the still-to-come 102 companies, total earnings are expected to be up +7.4% from the same period last year on +3.9% higher revenues. This Q4 growth pace continues to be the best growth pace in two years. ( Read More )

Meanwhile, Exxon Mobil Corporation ( (XOM - Free Report) and Chevron Corporation (CVX - Free Report) lost 1% and 1.7%, respectively. The Energy Select Sector SPDR (XLE) moved 1.4% lower, emerging as the largest loser among the S&P 500’s industry sectors. Losses for the energy sector were a result of traders measuring rise in oil inventories against attempts by key oil producing countries to control a supply glut.

Stocks That Made Headlines

Dean Foods Down on Q4 Earnings Miss, Gives 2017 View

Dean Foods Company (DF - Free Report) posted fourth-quarter 2016 results, wherein earnings lagged estimates and sales came almost in line. ( Read More )

Liberty Global Earnings Top, Revenues Lag in Q4

Liberty Global Plc. ( (LBTYA - Free Report) reported mixed financial results in the fourth quarter of 2016. ( Read More )

MGM Resorts Q4 Earnings Lag, Revenues Top, Stock Down

Shares of MGM Resorts International ( (MGM - Free Report) were down over 9% in yesterday’s trading session after the company posted mixed results for the fourth quarter of 2016. ( Read More )

V.F. Corp. Posts In-Line Q4 Earnings, Guides for 2017

V.F. Corporation (VFC - Free Report) released fourth-quarter 2016 results, wherein the company’s quarterly adjusted earnings came in line with the Zacks Consensus Estimate. ( Read More )

Campbell Soup Tops Q2 Earnings, Keeps FY17 Guidance

Campbell Soup Company ( (CPB - Free Report) posted second-quarter fiscal 2017 results, wherein earnings marked its second consecutive beat. ( Read More )

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