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11-Sep2018

US markets end mostly in green on Monday

The US markets ended mostly in green, with the S&P 500 and the Nasdaq each snapping a four-day losing streak, as technology shares tried to regain some of the steep losses from last week, while Dow Jones Industrial Average settled marginally in red. Technology stocks dropped nearly 3% last week as investors grappled with the possibility of stronger regulation for social media companies. The day's gains were fairly broad-based, with eight of the 11 primary S&P 500 industry groups finishing in positive territory led by utilities and real estate.

However, up-move remained capped amid lingering trade concerns after President Donald Trump ramped up trade tensions with China last Friday. Trump said that he was ready to go on hitting China with an additional $267 billion worth of tariffs. Further, traders seemed reluctant to make any significant moves amid a lack of major US economic data. Reports on producer and consumer price inflation, retail sales and industrial production as well as the Fed's Beige Book may attract attention in the coming days.

The S&P 500 gained 5.45 points or 0.19 percent to 2877.13 and Nasdaq added 21.62 points or 0.27 percent to 7924.16, while Dow Jones Industrial Average dropped 59.47 points or 0.23 percent to 25857.07.


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