Tech Lifts Nasdaq; Energy Curbs Dow, S&P Gains
The Dow Jones Industrial Average fell 1.1 points, or 0.01 percent, to close at 21,478.17, the S&P 500 gained 3.53 points, or 0.15 percent, to 2,432.54
and the Nasdaq Composite added 40.80 points, or 0.67 percent, to 6,150.86
NEW YORK — A steep drop in oil prices dragged energy shares lower
and kept the Dow and S&P 500 in check on Wednesday, while the Nasdaq was buoyed by gains in tech stocks.
New orders for U. S.-made goods fell more than expected in May, data showed on Wednesday,
but capital equipment orders were slightly stronger than previously reported, suggesting manufacturing remains on a path of moderate growth.
Tim Ghriskey said that The U. S. is the swing producer and the major capitalist producer as well,
Recent tepid economic data and an inflation rate below the Federal Reserve’s 2 percent
target may have a bearing on the U. S. central bank’s plans for interest rate hikes.