ZCZC
BCN-16
US-STOCKS-MARKETS
Tech, energy shares lead US stocks higher
NEW YORK, Sept 12, 2018 (BSS/AFP) – Technology and petroleum-linked shares
were among the winners on Tuesday as US stocks shrugged off trade worries and
finished higher.
The Dow Jones Industrial Average climbed 0.4 percent to 25,971.06.
The broad-based S&P 500 also gained 0.4 percent to 2,887.91, while the
tech-rich Nasdaq Composite Index advanced 0.6 percent to 7,972.47.
Stocks had opened the session in the red on continued anxiety over US
trade fights with China and yawning trade negotiations with Canada and the
European Union.
But sentiment shifted later in the day following strong data on small
business confidence, said Karl Haeling of LBBW.
“Stocks kind of wanted to go up anyway” amid largely positive data that
has shown the relative strength of the United States compared with other
economies, Haeling said.
Large technology shares, under pressure in recent sessions, pushed higher,
with Apple jumping 2.5 percent ahead of the expected launch Wednesday of new
iPhones.
Amazon, Microsoft and Facebook all won at least one percent.
Petroleum-linked companies were another strong sector, with Dow member
ExxonMobil rising 1.4 percent, Apache 1.8 percent and Halliburton 1.8 percent
following a rise in oil prices due to a possible hit to oilfield
infrastructure from Hurricane Florence.
Key data releases later in the week include reports on inflation and
retail sales, as well as the Federal Reserve’s “Beige Book” of economic
conditions around the United States.
BSS/AFP/HR/0945