Wall Street closes mixed on recovering oil prices and falling tech stocks
Following a flat start to the day, the Dow Jones Industrial Average and the S&P 500 closed the day higher while the tech-heavy Nasdaq recorded losses.
The barrel of West Texas Intermediate recovered more than 1% on Monday and rose above the $43 handle, helping the S&P 500 energy sector .SPNY record some gains in the first half of the session. Two of the biggest oil and gas companies, Range Resources and FirstEnergy, grabbed investors' attention as they both added more than 3%.
Weighing on the Nasdaq Composite Index, technology sector companies, Qorvo slid $2.97, or 4.3 percent, to $66.97. Skyworks Solutions fell $2.29, or 2.2 percent, to $102.07. Nvidia gave up $1.91, or 1.2 percent, to $151.92, as Reuters reported earlier in the session.
The Dow Jones Industrial Average finished the day 14.79 points, or 0.07% higher, at 21,409.55, the S&P 500 added 0.76 points, or 0.03%, to 2,439.06 and the Nasdaq Composite lost 18.10 points, or 0.29%, to 6,247.15.
Headlines from the U.S. session:
- Forex today: dollar better bid despite lower yields
- US Dollar Index recovers and rises back to daily highs, above 97.00
- WTI struggles for direction on $43 handle
- US dollar: will struggle to make much headway - Westpac
- U.S. President Trump on travel ban's lifting: a clear victory for our national security
- Dallas Fed: Manufacturing continues to expand but at slower pace
- US Durable Goods Orders: Details disappoint - Wells Fargo
- Fitch: US interest rates will normalize faster than consensus expectations - Reuters
- Fed should start to think about lowering its key interest rates? - Natixis