NEW YORK: The Dow retreated modestly from a record early Wednesday following a batch of mixed earnings reports and data showing a rise in durable goods orders for September.
The earnings deluge continued apace with Boeing lifting its full-year forecast, but announcing $329 million in additional costs on the KC-46 military refueling tanker contract. Shares fell 0.9 percent.
Fellow Dow member Visa rose 1.6 percent after reporting that fourth-quarter net income rose 10.8 percent to $2.1 billion.
About 20 minutes into trading, the Dow Jones Industrial Average stood at 23,433.95, down less than 0.1 percent. The blue-chip index finished at a record on Tuesday.
The broad-based S&P 500 lost 0.2 percent to 2,564.94, while the tech-rich Nasdaq Composite Index shed 0.1 percent to 6,592.26.
Strong aircraft and telecoms equipment sales boosted durable goods orders. Total orders rose by 2.2 percent compared to August, reaching $238.7 billion, nearly a full percentage point above a consensus forecast, according to the Commerce Department.
Chipotle Mexican Grill slumped 14.1 percent after reporting just a one percent increase in comparable restaurant sales in the third quarter, as it continues to struggle following a number of health safety woes.
Source: Brecorder.com
