Stocks mixed on down tech results

Most U.S. stocks hung onto gains even as FANG weakness and lingering concern over U.S. and China trade tensions weighed on investor optimism. Apple, Amazon.com, Google parent Alphabet and Netflix were the biggest losers in the Nasdaq 100 Index.

The S&P 500 broke a four-day slide, bolstered by increases in Microsoft and Home Depot, while the Dow Jones Industrial Average was led lower by United Health Group and Boeing. The Stoxx Europe 600 Index rose as Italy’s benchmark surged, buoyed by official government comments over the weekend that the country’s impending budget will be pragmatic and within EU fiscal rules. Emerging-market shares slid. Equities sank in Shanghai and Hong Kong, with the latter’s benchmark nearing a bear market in the wake of President Donald Trump’s threat to step up his trade showdown with China.

“We’ve had so much data come through that we now get into a little bit of a lull,” Mark Hackett, chief of investment research at Nationwide Funds Group, said in an interview at Bloomberg’s New York headquarters. “So unfortunately the only thing that is left is trade, and we’re going to probably get more negative headlines on that than positive.”

Apple fell for a fourth straight day, the longest losing streak since April, after a weekend tweet from President Trump targeting the iPhone maker. The pressure comes ahead of a week in which Apple will launch new products at the company’s California headquarters.

“We have the product event coming up and usually we see momentum in Apple stock going into the product event,” Joe “JJ” Kinahan, the chief market strategist at TD Ameritrade, said by phone. “We’ll have to see if that turns around, if this is just a one-day event based on the tweets.”

The pound jumped after European Union chief Brexit negotiator Michel Barnier said a deal with the U.K. is “realistic” and “possible” within eight weeks.