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The Financial Express

US stocks eke out slight gain as tech snaps skid

Published: December 28, 2017 10:18:51 | Updated: December 30, 2017 11:53:17


File Photo (Reuters) File Photo (Reuters)

Wall Street eked out a slight gain on Wednesday, as advances in some major technology stocks offset losses in energy and helped keep major indexes just above the unchanged mark.

The S&P technology index was up 0.2 per cent and managed to snap a five-session losing streak, its longest since April.

The sector was buoyed by gains in Facebook, up 0.9 per cent, and Microsoft, up 0.4 per cent.

The Dow Jones Industrial Average rose 28.09 points, or 0.11 per cent, to 24,774.3, the S&P 500 gained 2.12 points, or 0.08 per cent, to 2,682.62 and the Nasdaq Composite added 3.09 points, or 0.04 per cent, to 6,939.34, reports Reuters.

Oil prices dipped after hitting a near two-and-a-half-year high in the previous session, pushing down the S&P energy index by 0.3 per cent.

ConocoPhillips, off 1.1 per cent, and Chevron down 0.3 per cent, were the biggest drags on the index.

Housing stocks edged up 0.1 per cent. Tesla shares fell 1.8 per cent after brokerage KeyBanc lowered its estimate for Model 3 deliveries to roughly 5,000 units from 15,000 units for the fourth quarter.

Shares of wireless-charging technology developer Energous Corp surged 168.1 per cent to $23.70 after it got certification for its wireless charging transmitter.

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