Stock trading is off to a sluggish start
Stocks are off to a sluggish start on Wall Street as technology companies move lower.
Apple dropped 2.7 percent early Tuesday on speculation that the company would cut its targets for iPhone sales.
Chipmakers were also lower. Micron Technology gave back 4.1 percent. The Standard & Poor’s 500 index slipped 2 points, or 0.1 percent, to 2,681. The Dow Jones industrial average was little changed at 24,754. The Nasdaq composite lost 36 points, or 0.5 percent, to 6,923. Bond prices didn’t move much. The yield on the 10-year Treasury held steady at 2.48 percent.
Trading was closed Monday for Christmas. Stocks finished higher Friday for a fifth straight week, though they were below the record set earlier in the week.
U.S. shares were on pace to finish every month of the year with gains, when dividends are included.
Benchmark U.S. crude lost 7 cents to $58.40 in electronic trading on the New York Mercantile Exchange. The contract rose 11 cents to $58.47 on Friday. Brent crude, which is used to price international oils, fell 11 cents to $64.62 in London. It gained 30 cents the previous session to $64.73.
The dollar rose to 113.30 yen from 113.28. The euro fell to $1.1859 from $1.1872.