US

The Star Early Edition - - MARKETS -

STOCKS fluc­tu­ated yes­ter­day, with bench­mark in­dices near all-time highs, as in­vestors as­sessed data on labour, man­u­fac­tur­ing and hous­ing to gauge the strength of the Amer­i­can econ­omy.

The Stan­dard & Poor’s (S&P) 500 in­dex rose less than 0.1 per­cent to 2 068.54 at 11.03am in New York. The Dow Jones in­dus­trial av­er­age fell less than 0.1 per­cent to 17 801.81.

“The data this morn­ing isn’t great,” Michael James, a Los An­ge­les-based man­ag­ing di­rec­tor of eq­uity trad­ing at Wed­bush Se­cu­ri­ties, said. “You might see a pull­back be­cause we’re rel­a­tively overex­tended on a short-term ba­sis, but out­side some big macro shock to the down­side, I don’t see the mar­ket pulling back that much.”

Six out of 10 main in­dus­tries in the S&P 500 in­creased, with phone and tech­nol­ogy com­pa­nies post­ing the largest gains. En­ergy shares slumped the most, drop­ping 0.6 per­cent. – Bloomberg

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