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US stocks retreat after record streak

New York - US stocks retreated after a streak of record-setting sessions in opening trade on Thursday following surprisingly good earnings results from General Motors but a disappointment from Intel.

GM rose 4.1% after boosting its 2016 profit forecast following second-quarter earnings that topped analyst expectations.

But Dow member Intel dropped 4.0% as it reported a 51% decline in second-quarter earnings to $1.3bn.

Five minutes into trade, the Dow Jones Industrial Average stood at 18 559.18, down 0.2%.

The broad-based S&P 500 shed 0.1% to 2 171.14, while the tech-rich Nasdaq Composite Index added 0.1% at 5 092.36.

Both the Dow and S&P 500 closed at records on Wednesday.

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Rand - Dollar
18.91
+0.1%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.37
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Rand - Aus dollar
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Resource 10
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Financial 15
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