Wall Street dragged lower by sensitive industrials

• US indexes closed mixed, with the Nasdaq at a fresh record high.
• DJIA at risk of extending its decline on a break below 25,148.

Following a strong start to the day, US indexes lost momentum and closed the day mixed, unable to retain their early gains. The Nasdaq Composite was the only one to end positively, up for the day 27 points, to close at a fresh record high of 7,588.32. The Dow Jones Industrial Average lost 157 points after trading over 100 points higher before the opening, to end the day at 25,178.61, while the S&P lost 3 points, and settled at 2,783.02. Within the Dow, General Electric was the best performer, adding 1.24%, followed by Apple that gained 1.07%. Boeing led decliners by losing 2.73%, followed by Caterpillar that shed 2.10%.

Industry-related equities were responsible for the daily slump, with the sector down 0.8% for the day, still sensitive amid the latest Trump's decision on imposing tariffs on steel and aluminum imports.

Dow's decline has room to extend, although for the S&P it looks barely corrective as this last holds near a fresh 6-week high of 2,800. For the DJIA, however, the downward potential has increased as in the daily chart, technical indicators turned south and are challenging their mid-lines at the end of the day, although a break below the daily low, at 25,148 would be needed to confirm it.