Mumbai, July 21 -- The Nasdaq inched up 10.01 points (0.1%) to a new record closing high of 20,895.66, the S&P 500 edged down 0.57 points or less than a tenth of a percent to 6,296.79 and the Dow fell 142.30 points (0.3%) to 44,342.19.

Stocks initially climbed on Wall Street, buoyed by Thursday's positive U.S. economic data that calmed fears over Trump's trade wars. However, gains faded as investors took profits after the Nasdaq and S&P 500 hit new intraday records.

Netflix slumped by 5.1% which came after the company reported better than expected second quarter results but warned its operating margin in the second half will be lower than the first half. American Express (AXP) and 3M (MMM) too notably moved downwards even though the com...