Tuesday, 18 September, 2018


U.S. stocks end mixed after February jobs data

E-mini Dow Jones Industrial Average Weekly June E-mini Dow Jones Industrial AverageMore
Conrad Doyle | 13 March, 2018, 21:50

But the half percent fall in the Dow Jones Industrial Average followed a near 2 percent gain for New York's main indexes on Friday after data showed sluggish wage growth in February, easing concerns the Federal Reserve might raise interest rates swiftly. The S&P 500 was down 3.55 points, or 0.13 percent, to 2,783.02.

The news came shortly after the Labor Department said its consumer price index rose 0.2% in February.

Shares of Micron Technology jumped almost 10 percent after analysts at Nomura raised their target for the stock to $100 - $41 above current rates. Over the year, average hourly earnings have increased by 68 cents, or 2.6 percent, lower than market expectations.

US stock futures traded higher in early pre-market trade.

Boeing and other industrial companies fell Monday, giving back some of the ground they won late last week.

Rapid gains in technology stocks have already powered the Nasdaq back to its record levels. The Dow Jones Small-Cap Growth TSM Index closed at 9,974.43 for a gain of 19.39 points or 0.19%.

The Australian dollar had risen by 0.4 per cent to 77.8 United States cents about 7:15am AEDT.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.88 percent.

The Dow's overnight losses came after an nearly 2 per cent gain for Wall Street last Friday.

Johnson Controls was up 1.6 percent after saying it would consider selling a business that makes batteries for vehicles.

Ocular jumped 27 percent after laser and optical fibre specialist Lumen Holdings said it would buy the optical components producer for $1.7 billion. The S&P 500 technology sector gained 0.31% for the day. The Nasdaq composite gained 26 points, or 0.4 percent, to 7,588, another record high.

The Dow Jones industrial average rose 71 points, or 0.3 percent, to 25,410.

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