Closing Bell: Automakers Post August Sales; Nasdaq at New Records for Day Two

Stocks start the month off with gains and the Nasdaq notched a new record.

Author:: Keris Alison Lahiff
Publish date:: Sep 1, 2017 4:14 PM EDT

It was a positive start to the month with all three benchmark indexes ending in the green. The Dow ended below 22,000 again after spending the day above the milestone, while the Nasdaq notched a new record.

Crude oil was slightly higher for the day, but fell for its fifth in a row. Meanwhile, gasoline had its best week since February as Hurricane Harvey reduced refining capacity in Texas and Louisiana.

Palo Alto Networks Inc. (PANW) - Get Report surged after besting quarterly estimates. The security tech developer reached record sales over the quarter, exceeding $500 million for the first time in its history. Revenue increased 27%.

It was a mixed August for automakers. General Motors Co. (GM) - Get Report posted a far better increase in sales over the month, Ford Co. (F) - Get Report reported a narrower decline as its F-series continued to come in strong, and Fiat Chrysler Automobiles NV (FCAU) - Get Report more than doubled its expected drop.