Stocks Trim Losses As Techs Hold Up Better

By JUAN CARLOS ARANCIBIA, INVESTOR’S BUSINESS DAILY 

The stock market closed lower Monday but well off its session lows.


The Nasdaq, which had been down as much as 1.2% in early trading, closed with a 0.2% loss. Strength in techs seemed to help the composite. The S&P technology sector index rose 0.3%, despite a broad market retreat.


The S&P 500 fell 0.3% and the Dow Jones industrial average inched down less than 0.1%. Volume eased across the board, according to early figures. Declining stocks nearly doubled the number of advancers.

In a weak day for financials, credit card stocks also slipped. Visa (V) fell 1% although it remains above its 50-day moving average and 4% away from a new high. American Express (AXP) dropped 1% as it tries to form the handle to a base. Both stocks saw below-average volume.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s