Business

Wall Street rally shows signs of slowing

NYSE traders Image copyright AP

(Closed): Wall Street finished with mixed results as a three-day rally showed signs of slowing.

The Dow Jones hit a new record high closing up 24.45 points to 18,372.12.

The S&P 500 climbed just 0.29 points to 2,152.43, while the tech-heavy Nasdaq index slipped 17.09 to 5,005.73.

Investors remained cautious ahead of the corporate earnings season, with major firms due to release results over the next few weeks, starting with JP Morgan on Thursday.

Shares in JP Morgan Chase slipped 0.2%.

Delta Airlines which also reports quarterly results on Thursday closed 1.5% lower.

Health insurance providers saw a rise in their share price after a report said healthcare spending in the US would rise by 5.8% per year over the next decade.

Insurance provider Humana gained 4.3%, while Aetna climbed 3.2%.

Shares of Juno Therapeutics added 9.5% despite a lawsuit that was filed against it this week.

The lawsuit alleges that Juno and its chief executive Hans Bishop misled investors about the death of a patient in a drug trial.

Global oil prices fell by 4%. Brent crude oil dropped to $46.48 per barrel and West Texas crude slipped to $45 per barrel.