Sat, 15 May 2021

U.S. stocks slip as tech lags

Xinhua
20 Apr 2021, 06:55 GMT+10

NEW YORK, April 19 (Xinhua) -- U.S. stocks finished lower on Monday amid weakness in tech names.

The Dow Jones Industrial Average decreased 123.04 points, or 0.36 percent, to 34,077.63. The S&P 500 fell 22.21 points, or 0.53 percent, to 4,163.26. The Nasdaq Composite Index slid 137.58 points, or 0.98 percent, to 13,914.77.

Ten of the 11 primary S&P 500 sectors ended in red, with consumer discretionary and technology down 1.14 percent and 0.88 percent, respectively, leading the laggards. Real estate rose 0.29 percent, the lone gaining group.

Beverages giant Coca-Cola reported earnings and revenue that exceeded analysts' expectations. The stock closed 0.6 percent higher.

U.S.-listed Chinese companies traded roughly flat with five of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

For the week ending Friday, the Dow added 1.2 percent, the S&P 500 gained 1.4 percent, and the Nasdaq Composite advanced 1.1 percent. The 30-stock gauge and S&P 500 booked their fourth straight positive week, while the Nasdaq rose for three weeks in a row.

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