Business

Wall Street mixed after Dow record

NYSE traders Image copyright Getty Images

US stocks were mixed on Thursday, with the Dow Jones Industrial Average inching up to yet another record close, while other market indices fell.

Stocks were jolted late in the day by reports about the investigation of Russian involvement in US elections.

The Dow added 9.86 points, rising 0.04% to 22,026.10, lifted by gains at health care companies.

The wider S&P 500 index dropped 0.22%% to 2,472.16, while the tech-focused Nasdaq slipped 0.35% to 6,340.34.

Corporate earnings and growth outlooks have exceeded analyst expectations this month, lifting US markets.

Electric carmaker Tesla, for example, saw shares jump by more than 6% on Thursday, after it said revenues were up and assured investors that production plans for its first mass-market car were on track.

Pfizer shares also gained more than 1% after the firm announced progress toward approval of a new arthritis drug.

But stocks dropped on Thursday after US media reported new developments in the ongoing investigation of possible ties between Russia and US President Donald Trump's election campaign. The probe has reportedly widened and taken a more serious turn.

Many sectors traded lower on Thursday, including those in technology and finance.

Apple's shares, which climbed earlier this week after its earnings report, fell 1%. Amazon slid 0.9%, while Goldman Sachs slumped 1%.

Shares of Avon Products also dropped by more than 10%, after the cosmetics company reported a 3% fall in quarterly revenue, a larger drop than expected. Avon also said chief executive Sheri McCoy would step down, responding to calls by activist investors.