US open: Stocks edge up despite soft housing data, Goldman's results

(Sharecast News) - Stocks in the US were again trading on the front foot despite the release of weaker-than-expected second quarter earnings out of Goldman Sachs. As of 1541 BST, the Dow Jones Industrials was adding 0.55% to 35,142.90, alongside a 0.4% gain for the S&P 500 to 4,574.0 and the Nasdaq Composite was also 0.4% higher to 14,410.82.

Yields on benchmark 10-year US Treasuries were little changed at 3.785%.

Goldman Sachs shares were trading 1% higher despite having posted a sharp drop in second quarter earnings due to a couple of extraordinary charges.

However, the lender's topline beat analysts' estimates and Goldman hiked its quarterly dividend by 10%.

U.S. housing starts fell by 8.0% month-on-month in June to reach an annual rate of 1.434m (consensus: 1.48m), the Department of Commerce reported.

However, Kieran Clancy at Pantheon Macroeconomics believed that total residential construction spending was still set to rise over the next few months, thanks to a rebound in new home sales.

Dow Jones - Risers

Verizon Communications Inc. (VZ) $33.89 5.02% Salesforce.Com Inc. (CRM) $235.18 3.32% Unitedhealth Group Inc. (UNH) $509.36 1.87% Walt Disney Co. (DIS) $87.40 1.69% Goldman Sachs Group Inc. (GS) $342.54 1.56% Cisco Systems Inc. (CSCO) $51.94 1.37% Coca-Cola Co. (KO) $61.34 1.27% Chevron Corp. (CVX) $155.20 0.94% Walgreens Boots Alliance, Inc. (WBA) $29.85 0.91% Home Depot Inc. (HD) $319.55 0.88%

Dow Jones - Fallers

Caterpillar Inc. (CAT) $261.15 -1.01% Nike Inc. (NKE) $109.12 -0.55% Microsoft Corp. (MSFT) $357.73 -0.49% Apple Inc. (AAPL) $192.81 -0.47% Boeing Co. (BA) $210.87 -0.33% Walmart Inc. (WMT) $154.08 -0.32% Dow Chemical Co. (DOW) $52.86 -0.23% JP Morgan Chase & Co. (JPM) $153.66 0.00% Dowdupont Inc. (DWDP) $0.00 0.00% Intel Corp. (INTC) $34.53 0.09%

S&P 500 - Risers

CenturyLink Inc. (LUMN) $1.92 18.52% Northern Trust Corp. (NTRS) $80.36 12.07% AT&T Inc. (T) $14.51 7.84% Elevance Health Inc. (ELV) $470.30 6.00% Verizon Communications Inc. (VZ) $33.89 5.02% Dish Network Corp. (DISH) $7.07 4.98% Zions Bancorporation (ZION) $34.00 4.84% Citizens Financial Group, Inc. (CFG) $30.35 4.28% Centene Corp. (CNC) $69.08 4.15% Advance Auto Parts (AAP) $71.98 3.85%

S&P 500 - Fallers

Omnicom Group Inc. (OMC) $87.48 -10.66% Interpublic Group of Companies Inc. (IPG) $38.36 -6.16% Align Technology Inc. (ALGN) $342.84 -4.93% KLA-Tencor Corp. (KLAC) $471.36 -2.62% Lam Research Corp. (LRCX) $641.69 -2.17% Tapestry Inc. (TPR) $42.47 -2.05% Nucor Corp. (NUE) $167.84 -2.01% Universal Health Services Inc. (UHS) $150.06 -1.94% Coty Inc. Class A (COTY) $12.24 -1.84% FMC Technologies Inc. (FTI) $17.72 -1.69%

Nasdaq 100 - Risers

Dish Network Corp. (DISH) $7.07 4.98% Qurate Retail Inc. (QRTEA) $1.08 4.37% Illumina Inc. (ILMN) $185.65 2.95% QUALCOMM Inc. (QCOM) $126.43 2.90% J.B. Hunt Transport Services Inc. (JBHT) $192.73 2.42% Autodesk Inc. (ADSK) $222.22 2.29% Workday, Inc. (WDAY) $233.40 2.21% Intuit Inc. (INTU) $505.48 2.03% Vodafone Group Plc ADS (VOD) $9.56 1.92% Liberty Global plc Series A (LBTYA) $18.75 1.82%

Nasdaq 100 - Fallers

Align Technology Inc. (ALGN) $342.84 -4.93% Asml Holdings N.V. (ASML) $726.64 -4.01% KLA-Tencor Corp. (KLAC) $471.36 -2.62% Lam Research Corp. (LRCX) $641.69 -2.17% Intuitive Surgical Inc. (ISRG) $349.22 -1.61% Applied Materials Inc. (AMAT) $142.62 -1.31% PACCAR Inc. (PCAR) $88.43 -1.11% Booking Holdings Inc. (BKNG) $2,952.51 -0.98% Microchip Technology Inc. (MCHP) $92.49 -0.91% Cintas Corp. (CTAS) $499.28 -0.88%