Tech, bank stocks slow ad­vance

The Denver Post - - BUSINESS - By Stan Choe

Fall­ing tech­nol­ogy and fi­nan­cial stocks pulled U.S. in­dexes back from the edge of record highs on Fri­day. Bond yields gave up some of their big gains from the last few days, and the dol­lar down­shifted from its sharp climb against other cur­ren­cies.

The Standard & Poor’s 500 in­dex fell 3.96 points, or 0.2 per­cent, to 2,258.07. It had wob­bled up and down through the day, never ris­ing by more than 0.3 per­cent or fall­ing by more than 0.3 per­cent.

The Dow Jones in­dus­trial av­er­age fell 8.83 points, or less than 0.1 per­cent, to 19,843.41. The Nas­daq com­pos­ite fell 19.69, or 0.4 per­cent, to 5,437.16 af­ter climb­ing above its record clos­ing level ear­lier in the day.

Fri­day’s moves close a week where stocks slowed their sharp as­cent since last month’s pres­i­den­tial elec­tion.

Fi­nan­cial stocks in the S&P 500 fell 0.9 per­cent. Bank of Amer­ica fell 50 cents, or 2.2 per­cent, to $22.66, and Re­gions Fi­nan­cial fell 32 cents, or 2.2 per­cent, to $14.20.

Tech­nol­ogy stocks in the S&P 500 fell 0.8 per­cent. Soft­ware gi­ant Or­a­cle fell $1.76, or 4.3 per­cent, to $39.10 af­ter re­port­ing rev­enue for its lat­est quar­ter that fell short of an­a­lysts’ ex­pec­ta­tions.

Chipo­tle Mex­i­can Grill jumped $9.72, or 2.5 per­cent, to $392.07.

Crude oil rose $1 to set­tle at $51.90 a bar­rel in New York. Brent crude, the in­ter­na­tional standard, rose $1.19 to close at $55.21 a bar­rel in Lon­don. Nat­u­ral gas slipped nearly 2 cents to set­tle at $3.415 per 1,000 cu­bic feet, whole­sale gaso­line rose 1.5 cents to $1.56 a gal­lon and heat­ing oil rose 3 cents to $1.67 a gal­lon.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.