Dow Jones – Dow gains but misses out on record as Fed’s Beige Book points to U.S. growth
U.S. stocks finished mostly lower on Thursday as the Federal Reserve’s Beige Book showed growth and inflation was picking up in the U.S. economy. The S&P 500
fell 0.4% to 4,125. The Dow Jones Industrial Average
advanced 55 points, or 0.2%, to 33,732, based on preliminary numbers. The blue-chip benchmark hit an intraday record earlier in the session but ended below the record close of 33,800.60 set last Friday. The Nasdaq Composite
slid 1% to 13,858. Investors parsed through better-than-expected earnings from banks including Goldman Sachs, Wells Fargo and JPMorgan Chase. The strong results showed the broadening benefits of the recovery, Shares of cryptocurrency exchange Coinbase Global
rose over 30%.