Business

Dow closes at record high for sixth day

NYSE traders Image copyright Reuters

(Close): Wall Street markets were mixed on Tuesday as the Dow reached another new high, but poor results weighed on the Nasdaq.

The Dow Jones rose 25.9 points to 18,559, setting a record for the sixth consecutive day.

The broader S&P 500 fell 3.1 points to 2,163.7, while the technlogy-focused Nasdaq dropped 19 points to 5,036.

Investors have been focused on corporate results, which have proved to be mixed.

"We're just getting started with the second-quarter earnings season, but the overall tone for the most part is pretty constructive," said Michael James of Wedbush Securities.

Shares in video streaming service Netflix fell 13% after it reported slowing subscriber growth.

Philip Morris slid 3% as the maker of Marlboro cigarettes said shipment volumes were down.

Goldman Sachs lost 1.2% after the bank reported a rise in profits to $1.82bn (£1.4bn) from $1.05bn a year earlier, but revenues fell 12.5%.

Shares in Microsoft were down 1.6%, but rose 3.5% in after-hours trading following better-than-expected results, helped by growth at its cloud computing division.

Homecare brand Johnson & Johnson rose 1.7% after raising its annual profit forecast. The company reported $18.5bn in sales for the second quarter.