US Stocks End In Negative Territory - Barely
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2019-03-06 HKT 05:35
US markets have ended a choppy day mostly lower, with losses by industrial and technology companies offsetting strength in other sectors.
General Electric slumped 4.7 percent on Tuesday, and chipmaker Micron Technologies gave up 2.6 percent.
Hertz dropped 10 percent after activist investor Carl Icahn cut his holdings in the car rental company.
Investors are taking a cautious view of Sino-US trade talks, with some arguing that the gains already have been figured into valuations or questioning whether an agreement will truly resolve the impasse.
Meanwhile, the Institute for Supply Management reported that US services sector activity jumped in February, but the report came on the heels of other data that suggest the US economy is slowing.
"The market is trying to react to a mixed bag of things," said Art Hogan, chief market strategist at National. "How much is priced in in terms of good news in China trade and just how much is the economy slowing domestically."
The S&P 500 index slipped 0.1 percent to 2,792.
The Dow Jones Industrial Average edged down less than 0.1 percent to 25,806. The Nasdaq was barely changed at 7,576. (AP, AFP)
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