US stocks mixed as oil rises on Saudi attacks, tech weighs
Wall Street finished mixed on Monday, with the Dow up 0.38 per cent but the Nasdaq down 0.44 per cent, as rising oil prices from attacks on Saudi Arabia and caution ahead of bank earnings and economic data weighed on tech shares. Microsoft gained over 1 per cent after announcing plans to deploy its
US stocks finished mixed on Monday, with the Dow Jones Industrial Average closing higher while the technology-heavy Nasdaq fell, as rising oil prices and caution ahead of bank earnings and economic data weighed on investor sentiment.
The Dow Jones Industrial Average rose 195 points, or 0.38 per cent, to close at 51,850. The Nasdaq Composite fell 120 points, or 0.44 per cent, to 27,245. The S&P 500 slipped 4 points, or 0.06 per cent, to 7,807.
Oil prices climbed after Saudi Arabia continued to come under attack, adding to supply concerns in global markets. Investors were also awaiting a batch of bank earnings and several economic data releases scheduled for this week.
Large-cap technology stocks were mixed. Meta rose more than 3 per cent, while Microsoft gained over 1 per cent after announcing plans to deploy its self-developed artificial-intelligence chips on a large scale. The move pushed Microsoft's market value above US$4 trillion for the first time in a year.
Tesla and Amazon each fell more than 1 per cent. Optical-communications and memory-chip stocks were broadly under significant pressure.