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Wall Street shares end mixed amid weakness in tech sector

Wall Street shares end mixed amid weakness in tech sector

U.S. stocks finished mixed Monday in choppy trade as investment giant Lehman Brothers said it was seeking fresh capital in the face of a big loss and tech sector weakness hurt market sentiment.
Skittishness about Apple weighed on tech shares as the company announced a lower-priced version of its popular iPhone with new features.
The Dow Jones Industrial Average rose 70.51 points (0.58 percent) to close at 12,280.32 as blue chips saw a rebound from a three percent slide on Friday.
The tech-heavy Nasdaq composite however lost 15.10 points (0.61 percent) to 2,459.46 while the Standard & Poor's 500 broad-market index increased a modest 1.08 points (0.08 percent) to 1,361.76.
Lehman closed down 8.7 percent at US$29.48, hurting some of its peers: Merrill Lynch shed 3.23 percent to US$37.76 and Goldman Sachs lost 2.17 percent to US$165.76.
Sentiment got a modest lift as the National Association of Realtors reported that pending home sales rose 6.3 percent during the month of April, providing some hope for the trouble real estate market.
Tech sector jitters kept a lid on the broader market. Apple recouped some of its heavy losses but ended down 2.17 percent at 181.61 as the group announced a new iPhone with faster Internet and more business features at a lower cost.
Among other stocks in focus, McDonald's led blue chips higher, gaining 4.14 percent to US$59.31 as the fast-food sector leader reported a 7.7 percent rise in global comparable store sales, better than expected.
Bonds were mixed. The yield on the 10-year U.S. Treasury bond rose to 3.992 percent from 3.938 percent Friday while that on the 30-year bond eased to 4.621 percent from 4.650 percent. Bond yields and prices move in opposite directions.


Updated : 2021-01-21 14:37 GMT+08:00