Wednesday, 23 May 2018
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Stock market pares firmer losses in late-morning trade
Tuesday, 14 November 2017 23:52 WIB | MARKET UPDATE | Standard & Poor's 500Saham AS

U.S. stock benchmarks came off their intraday lows late-morning Tuesday, with Wall Street trading skittishly in the face of uncertainty around efforts to reform tax policy and a downturn in crude-oil futures.

The Dow Jones Industrial Average traded off 60 points, or 0.2%, to 23,383, but the blue-chip gauge had been down by as much as about 170 points. Declines in shares of Goldman Sachs Group Inc., Apple Inc Walt Disney Co. DIS, -1.06% and DowDuPont Inc were dragging the average lower.

The S&P 500 index fell 7 points, or 0.3%, at 2,577, with only the utilities and consumer-staples sector, considered defensive plays, trading higher. The sectors most tied to the crude market, energy and materials led losses, each down at least 1% as the International Energy Agency said the oil-price rally may be ephemeral.

Meanwhile, the Nasdaq Composite Index dipped 20 points, 3%, to 6,735.

Source: Marketwatch

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