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Wall Street Flat as Tech Boost Offset by Lower Oil Prices


Monday, 4 February 2019 23:41 WIB

Saham ASWallstreet


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U.S. stocks treaded water on Monday as a tech boost was offset by declines in energy companies, as investors wait for Alphabet's results after the bell following mixed earnings from other FAANG stocks.

However, a more than 1 percent rise from marquee companies such as Alphabet Inc, Apple Inc and Microsoft Corp boosted the Nasdaq. The technology sector rose 0.67 percent.

Apple and Facebook Inc posted better-than-expected quarterly results last week, while Netflix Inc and Amazon.com Inc gave downbeat current-quarter forecasts.

The energy sector fell 0.84 percent, the most among the 7 major S&P sectors trading in the red, as oil prices fell more than 1 percent.

Still, indexes were near their two-month highs, as recent signs of progress in U.S.-China trade talks and the Federal Reserve's signal of slowing down rate hikes gave relief to investors who have fretted over growth.

At 10:03 a.m. ET the Dow Jones Industrial Average was down 65.77 points, or 0.26 percent, at 24,998.12, the S&P 500 was down 5.73 points, or 0.21 percent, at 2,700.80 and the Nasdaq Composite was up 16.07 points, or 0.22 percent, at 7,279.94.

Source : Reuters


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