Off the wire
• WHO seeks 10 mln USD to scale up health response in Somalia  • Namibia's president blames apartheid for over-bloated civil sevice  • Greek Orthodox Christians celebrate start of Lent  • Paris CAC 40 index ends stable on Monday  • Another 78-mln USD debt rocks Nigeria's largest airline  • Ghanaian president swears in advisory body  • China Exclusive: China's domestic Wing-Loong II UAS conducts maiden flight  • Ukraine starts spring sowing ahead of schedule  • 2nd LD Wriththru: U.S. President to raise defense spending by 54 billion dollars: White House  • South Sudan, UN agree to boost agribusiness development  
You are here: 　 Home

U.S. stocks waver narrowly after record run

Xinhua, February 28, 2017 Adjust font size:

U.S. stocks fluctuated between small gains and losses in the morning session Monday, as investors turned cautious after recent solid gains.

By midday, the Dow Jones Industrial Average fell 20.64 points, or 0.10 percent, to 20,801.12. The S&P 500 lost 2.06 points, or 0.09 percent, to 2,365.28. The Nasdaq Composite Index was down 3.83 points, or 0.07 percent, to 5,841.47.

U.S. stocks reversed early losses to end higher Friday, with the Dow notching its 11th straight record close. This is the index's longest winning streak since 1992.

Investors kept a close eye on a speech to be delivered by U.S. President Donald Trump Tuesday night. Markets expected Trump to unveil some elements of his plans to cut taxes, including tax cuts for the middle class, and simplification of the tax system.

U.S. stocks have posted solid gains since Trump won the presidential election, as investors bet that he would pursue massive corporate tax cuts, deregulation and infrastructure spending.

On the economic front, U.S. new orders for manufactured durable goods in January increased 4.0 billion U.S. dollars or 1.8 percent to 230.4 billion dollars, in line with market consensus, the Commerce Department said Monday.

Meanwhile, insufficient supply levels led to a lull in contract activity in the Midwest and West of the United States, which dragged down pending home sales in January to their lowest level in a year, according to the National Association of Realtors Monday.

The Pending Home Sales Index decreased 2.8 percent to 106.4 in January from an upwardly revised 109.5 in December 2016. Enditem