At the close of trading, the Dow Jones Industrial Average fell 239.57 points, or 0.71%, to 34,152.01. The S&P500 index rose 8.06 points, or 0.19%, to 4,305.20. The tech-heavy Nasdaq Composite Index fell 25.50 points, or 0.19%, to 13,102.55.
In total, 6 of the 11 S&P sectors finished higher, with Consumer Staples being the best performer, up 1.2%, followed by Consumer Discretionary (up 1.1%).
The real estate sector was the worst performer, wiping out 0.4%, followed by the energy (-0.3%) and information technology (-0.63%) sectors.
The Dow’s continued advance was partly due to strong gains from Walmart and Home Depot after both companies reported better-than-expected second-quarter results. Meanwhile, buying interest was also buoyant in reaction to a report from the Federal Reserve showing US industrial production rose a more than expected 0.6% in July after a revised reading unchanged in June.
However, market gains were capped after Commerce Department reports showing new residential construction fell 9.6% more than expected to an annual rate of 1.446 million in July after falling 2.4% to a rate of 1.559 million in June. Building permits, an indicator of future housing demand, also fell 1.3% to an annual rate of 1.674 million after rising 0.1% to a revised rate of 1.696 million in June.
Among Indian ADRs, Dr Reddy’s Labs rose 0.48% to $53.88, Tata Motors added 2.2% to $31.02, WNS Holdings added 1.2% to $88.48 and ICICI Bank fell 0.67% to $22.35, and INFOSYS rose 0.2% to $20.15. Azure Power Global fell 8.2% to $11.25, Wipro fell 0.5% to $5.48 and HDFC Bank fell 1.3% to $64.94.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)