Closing Bell: Pivotal Backs Off of Disney; Nasdaq Snaps Record-Winning Streak

The Nasdaq fell for the first session of the year, snapping a winning streak that had resulted in record closes for five trading days in a row.

Author:: Keris Alison Lahiff
Publish date:: Jan 12, 2017 4:36 PM EST

The Nasdaq fell for the first session of the year on Thursday, snapping a winning streak that had resulted in record closes for five trading days in a row. Financials sold off ahead of banking earnings Friday morning. Pivotal Research downgraded Disney (DIS) - Get Report to sell from hold. The firm said markets were not accounting for heightened political risks and uncertainty could hurt a range of companies. Private club operator ClubCorp (MYCC) rallied after establishing a strategic review committee to evaluate options to enhance shareholder value. Jefferies and Wells Fargo have been hired as financial advisers to the committee. Hess (HES) - Get Report was one of the worst performers on the S&P 500 following production guidance for the year. The oil company upped its exploration capex budget by more than 18%.