US STOCKS-Wall St little changed; oil drop weighs on energy shares

By Reuters / January 01, 1970 / in.investing.com / Article Link

* Oil prices fall from 2015 highs, U.S. crude at $59.53/bbl

* China imports fuel copper's ascent to 3-1/2 year high

* Tesla down on KeyBanc's lowered est for Model 3 deliveries

* Indexes up: Dow 0.02 pct, S&P 0.06, Nasdaq 0.07 pct (Updates to open)

By Sruthi Shankar

Dec 27 (Reuters) - U.S. stocks were little changed in morning trading on Wednesday, with gains in healthcare and technology stocks helping offset losses in energy shares.

Oil prices fell after hitting a near two-and-a-half year high in the previous session, pressuring the S&P energy index .SPSY , which fell 0.1 percent. O/R

ConocoPhillips (NYSE:COP) dropped 1.2 percent COP.N and Chevron (NYSE:CVX) CVX.N fell 0.3 percent.

Technology shares, including those of Facebook FB.O and Nvidia NVDA.O , gained ground on Wednesday. The sector was dragged down on Tuesday by losses in Apple's shares AAPL.O following a report on tepid iPhone X demand.

Trading activity was muted in the holiday-shortened week between Christmas and New Year.

Commodity prices were in the spotlight after copper prices hit three-and-a-half-year highs after a rise in China's imports in November. are using copper and oil prices as a precursor to signal that the U.S. economy is strengthening," said Robert Pavlik, chief investment strategist at SlateStone Wealth in New York.

At 9:38 a.m. ET (1438 GMT), the Dow Jones Industrial Average .DJI was up 5.36 points, or 0.02 percent, at 24,751.57 and the S&P 500 .SPX was up 1.61 points, or 0.06 percent, at 2,682.11.

The Nasdaq Composite .IXIC was up 4.69 points, or 0.07 percent, at 6,940.94.

Johnson & Johnson (NYSE:JNJ) JNJ.N and Pfizer (NS:PFIZ) PFE.N rose about half a percent each, lifting the S&P healthcare sector .SPXHC by 0.22 percent.

Tesla TSLA.O shares fell 0.75 percent after brokerage KeyBanc lowered it estimates for Model 3 deliveries to roughly 5,000 units from 15,000 units for the fourth quarter. of wireless-charging technology developer Energous Corp WATT.O soared about 85 percent after it got certification for its wireless charging transmitter. issues outnumbered decliners on the NYSE by 1,341 to 1,137. On the Nasdaq, 1,345 issues rose and 953 fell.

Recent News

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com

US a major market for Canadian mineral exports

November 11, 2024 / www.canadianminingreport.com

Gold stocks down along with broad equities decline

November 04, 2024 / www.canadianminingreport.com

Big Gold still undervalued overall versus Big Tech

November 04, 2024 / www.canadianminingreport.com

Junior gold stocks outperform in sector pullback

October 28, 2024 / canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok