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 September 7, 2017 - 10:30 AM EDT
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Stocks Slip as Bank Shares Decline

Stocks Slip as Bank Shares Decline

U.S. stocks traded slightly higher on Thursday a day after President Donald Trump struck a deal with Democrats over relief funding and government funding.

The Dow Jones Industrials slid 28.91 points, to 21,778.73, with Home Depot and Visa contributing the most to the gains.

The S&P 500 lost 2.93 points to 2,462.61, with information technology and telecommunications leading advancers.

The NASDAQ dropped 7.62 points to 6,385.69, with eBay and Microsoft moving higher. Shares of GoPro surged higher after the company said that revenue and gross margin for the third quarter are expected to be at the high end of their previously announced ranges.

Stocks rose slightly on Wednesday after Trump signaled his approval for a Democratic plan to package hurricane relief money for Hurricane Harvey to a three-month extension of both government funding and the debt ceiling.

On the data front, the U.S. Labor Department said on Thursday that non-farm productivity, which measures hourly output per worker, rose at a 1.5% annualized rate. Productivity was previously reported to have increased at a 0.9% pace in the April-June period. It grew at a 0.1% rate in the first quarter.

Prices for the benchmark 10-year Treasury note were up slightly, lowering yields to 2.06% from Wednesday's 2.07%. Treasury prices and yields move in opposite directions.

Oil prices let go of 28 cents to $48.88.

Gold prices hiked $10.00 to $1,349 U.S. an ounce.


Source: Livemoney US Market Commentary (September 7, 2017 - 10:30 AM EDT)

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