Home Business US stocks closed mixed amid trade concerns, data

US stocks closed mixed amid trade concerns, data

6
0
SHARE
NEW YORK, Feb. 5, 2018 (Xinhua) -- A trader works at the New York Stock Exchange in New York, the United States, on Feb. 5, 2018. U.S. stocks closed sharply lower on Monday, with the Dow plummeting 4.60 percent, as the market took a heavy hit from panic sales. (Xinhua/Wang Ying/IANS) by .
A trader works at the New York Stock Exchange in New York, the United States.

US stocks ended mixed as investors kept a close eye on the latest development of trade tensions between the US and its key trading partners while digesting a batch of economic data…reports Asian Lite News

NEW YORK, Feb. 5, 2018 (Xinhua) -- A trader works at the New York Stock Exchange in New York, the United States, on Feb. 5, 2018. U.S. stocks closed sharply lower on Monday, with the Dow plummeting 4.60 percent, as the market took a heavy hit from panic sales. (Xinhua/Wang Ying/IANS) by .
A trader works at the New York Stock Exchange in New York, the United States.

The Dow Jones Industrial Average on Monday fell 181.45 points, or 0.68 per cent, to 26,562.05. The S&P 500 was down 10.30 points, or 0.35 per cent, to 2,919.37.

The Nasdaq Composite Index rose 6.29 points, or 0.08 per cent, to 7,993.25.

Shares of Caterpillar and Boeing, companies with high overseas revenue exposure, both declined more than 1 per cent, at the close.

Exxon Mobil and Apple were among the best performers in the Dow. Shares of the companies advanced 1.68 per cent and 1.44 per cent, respectively.

Seven of the 11 primary S&P 500 sectors traded lower, with real estate and consumer staples leading the losers. Tech sector closed more than 0.3 per cent higher, underpinning the Nasdaq.

Market sentiment was dented by concerns that an escalation of trade frictions between Washington and its key trading partners may have negative impact on the global economy, noted experts.

On economic data, the Chicago Fed National Activity Index (CFNAI) was unchanged at +0.18 in August from July rate, the Chicago Federal Reserve Bank announced.

The CFNAI is a weighted average of 85 existing monthly indicators of national economic activity. A positive index reading corresponds to growth above trend and a negative index reading indicates growth below trend.