Wall Street ended little changed on Thursday after a moderate late-day rally as media stocks, which slumped on negative business updates from Walt Disney and Comcast, were offset by gains in healthcare shares.
Financial Advisory which means a lot to a financial trader and we can do a best with your investments with all mandatory work skills subscribe us now and get two days Free Trial >> http://www.ripplesadvisory.com/free-trial.php
Comcast dropped 6.2 percent after the cable operator warned of subscriber losses, while Disney shares fell 4.4 percent after the company cautioned about its profit growth. The S&P 500 media index ended down 3.6 percent.
Gains in healthcare stocks such as AbbVie and Bristol-Myers Squibb buoyed indexes, while strength in Microsoft and Amazon helped keep the tech-heavy Nasdaq in positive territory.
Investors were tracking Hurricane Irma, which was bearing down on Florida on the heels of devastation in Texas caused by Hurricane Harvey. Irma plowed past the Dominican Republic toward Haiti after devastating a string of Caribbean islands.
With Irma looming, shares of insurers were weaker, with the Dow Jones US Insurance index off 1.9 percent.