US stocks gain as tech shares recover

About 15 minutes into trading, the Dow Jones Industrial Average stood at 24,313.14, up 0.1 per cent and adding to yesterday's record. — Reuters picAbout 15 minutes into trading, the Dow Jones Industrial Average stood at 24,313.14, up 0.1 per cent and adding to yesterday’s record. — Reuters picWASHINGTON, Dec 5 — stocks rose early today, with technology shares leading the broader market after tumbling in the prior session.

Large tech companies such as Amazon, Facebook and Google-parent Alphabet gained amid bargain hunting after technology shares finished sharply lower yesterday as investors steered money into underperforming sectors.

Markets are girding for coming negotiations between House and Senate lawmakers on the long-awaited tax cut plan, as well as major US economic data, including the November jobs report which will be released Friday.

About 15 minutes into trading, the Dow Jones Industrial Average stood at 24,313.14, up 0.1 per cent and adding to yesterday’s record.



The broad-based S&P 500 also edged up 0.1 per cent to 2,640.81, while the tech-rich Nasdaq Composite Index advanced 0.4 per cent to 6,802.96.

Credit card company Mastercard rose 0.3 per cent after boosting its quarterly dividend by 14 per cent and announcing a new US$4 billion share repurchase program.

Toll Brothers slumped 9.1 per cent after the homebuilder reported fourth-quarter earnings of US$1.17 per share, two cents shy of analyst expectations. — AFP

Source: The Malay Mail Online






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