Wall Road little modified as tech offsets vitality

NEW YORK (Reuters) – U.S. shares had been little modified on Wednesday, as good points within the expertise sector offset losses in vitality and helped preserve main indexes almost flat.

The S&P expertise index was up zero.1 % and poised to snap a five-session shedding streak, its longest since April, led by good points in Fb, up 1.zero %, and Visa, up zero.eight %.

Buying and selling volumes remained muted within the holiday-shortened week between Christmas and New Yr. Buying and selling on Tuesday marked the thinnest quantity of the yr for a full session.

“We don’t see the behaviors typical of theme modifications so we predict this messiness in December is simply non permanent; the management of the yr will resume and proceed into 2018,” stated Craig Callahan, President of ICON Funds in Denver.

“Know-how, for instance, led however we don’t see them as overpriced.”

The Dow Jones Industrial Common rose 15.81 factors, or zero.06 %, to 24,762.02, the S&P 500 gained zero.18 level, or zero.01 %, to 2,680.68 and the Nasdaq Composite added zero.64 level, or zero.01 %, to six,936.89.

Oil costs dipped after hitting a close to two-and-a-half-year excessive within the earlier session, pushing down the S&P vitality index by zero.four %.

ConocoPhillips, off 1.6 % and Chevron down zero.four had been the largest drags on the index.

Housing shares edged up zero.1 % after knowledge confirmed contracts to purchase beforehand owned houses edged greater in November, the most recent sign the housing market might have regained some momentum.

Tesla shares fell 1.7 % after brokerage KeyBanc lowered its estimate for Mannequin three deliveries to roughly 5,000 items from 15,000 items for the fourth quarter.

Shares of wireless-charging expertise developer Energous Corp surged 107 % to $18.30 after it obtained certification for its wi-fi charging transmitter.

Advancing points outnumbered declining ones on the NYSE by a 1.16-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.

The S&P 500 posted 27 new 52-week highs and one new low; the Nasdaq Composite recorded 76 new highs and 14 new lows.

Reporting by Chuck Mikolajczak in New York; Modifying by James Dalgleish

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