American Express (AXP) lost -2.50%, the Dow’s biggest loss, with Visa and Mastercard also losing ground on the day as US economy data shows customer spending declining.
In U.S. economic headlines, initial jobless claims, an indicator of cuts to the labor force, fell by 6,000 last week to a seasonally adjusted 361,000. Economists had forecast that number would rise to 370,000. Claims from the prior week were revised slightly higher.
In Europe, the Stoxx Europe 600 added 0.4% for its fifth consecutive day of gains, despite a downbeat survey from the European Central Bank that showed expectations for the euro-zone economy to contract more sharply this year than in previous estimates.
In corporate news, MDRX raged 18.44% after the electronic health record company raised its full year earnings outlook, though second quarter results fell short of estimates. Monster Beverage (MSNT) dropped near 10% after they missed earnings and estimates. Wendy’s (WEN) rose 1% after the fast food chain rose in sales and profitability over the last quarter.