US stocks mixed at close
Dow Jones reaches new record
General Electric shares lower
United Continental tank
US stocks closed higher and mixed and the Dow Jones reached a record finish.
The benchmark closed out at 26,252 - up over 41 points, while the S&P 500 shed 1.59 at 2,837.
The tech heavy Nasdaq shed over 45 points at 7,415.
In Toronto, the TSX is down 75 points at 16,282.
General Electric Company (NYSE:GE) lost 2.66% to US$16.44 as new emerged that the Securities and Exchange Commission has opened up an investigation of its accounting practices in the wake of the conglomerate's review of its insurance business.
MID-SESSION
Wall Street shares were still higher at mid-session, with the Dow Joness up almost 54 points at 26,071.
The S&P 500 is up over 12 points at 2,810, while Nasdaq is ahead by over 40 points at 7,336.
US crude - West Texas Intermediate - is up 0.05% to US$63.40 a barrel.
Among notable movers, Cerus Corporation (NASDAQ:CERS) was among the movers- up over 18% to US$12.20 after the biomedical products company posted an encouraging update to its phase 3 trial called INTERCEPT.
Cerus said primary efficacy and safety endpoints were successfully achieved in a chronically transfused patient population and supports the company's mark submission which is planned for the second half of 2018.
Elsewhere, Inovio Pharmaceuticals Inc (NASDAQ: INO) shed 9.23% having surged 20% yesterday.
The group announced on Monday that its synthetic flu vaccine, which uses synthetic DNA antigens, has generated “broad protective antibody responses” against all major deadly strains of H1 influenza viruses from the last 100 years.
It also proved effective in multiple animal tests including mice, guinea pigs and non-human primates.
OPEN
US stocks started Wednesday on the front foot, with the Dow Jones up over 136 points at 26,347 having closed lower yesterday.
The broader based S&P 500 added 6.67 points at 2,845.
The tech heavy Nasdaq was down 1.27 points at 7,459.
In Toronto, the TSX shed almost 11 points to stand at 16,346.
In companies, United Continental Holdings (NYSE:UAL) was a notable loser - down 10.21% to US$70.01 a share.
Shares sank despite the group reporting market-beating fourth quarter numbers.
On Tuesday, the airlines said its net income for the quarter came in at US$580mln, or US$1.99 per share, against the US$397mln or US$1.26 reported a year ago.
Adjusted earnings stood at US$1.40 a share.