LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall Street's two-day rally fades on tech, oil weakness

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Fri, Dec 28, 2018
10:29 pm
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

U.S. stocks were struggling on Friday to extend their rally to a third straight day, weighed down by a drop in the energy and technology sectors at the end of a week that has seen the market swing wildly.

The week started off with Wall Street`s worst-ever Christmas Eve drop, followed by Dow Jones Industrial Average`s record 1,000-plus point surge on Wednesday and a stunning reversal late on Thursday that ensured two days of gains.

The trend continued on Friday as the three main indexes flitted between gains and losses. The swings, though, were to a lesser degree, with the S&P 500 rising as much as 0.78 percent before dropping 0.64 percent to a session low.

Technology stocks, which had powered the rally earlier this year and were at the center of the recent pullback, were flat, while energy stocks slipped 0.33 percent.

Holding the market were the financial and health sectors, up about 0.4 percent each.

"We`re seeing some big moves today and I expect the wild ride to continue, like the ones we`ve seen in the last couple of trading days," said Ryan Nauman, market strategist at Informa Financial Intelligence in Zephyr Cove, Nevada.

"Since the beginning of October, investors are more defensive. Rather than buying the dip, they are selling the rally. They are looking to take gains when they can," Nauman added.

One dampener was a report that showed contracts to buy previously owned homes fell unexpectedly in November, the latest sign of weakness in the U.S. housing market.

At 11:36 a.m. ET, the Dow Jones Industrial Average was up 20.07 points, or 0.09 percent, at 23,158.89, while the S&P 500 was up 2.33 points, or 0.09 percent, at 2,491.16. The Nasdaq Composite was up 5.59 points, or 0.08 percent, at 6,585.08.

While the three indexes are on pace to snap a streak of three straight weeks of losses, they are still down about 9 percent for December and on track for their biggest annual percentage drop since 2008.

Investors head into 2019 with a list of worries ranging from U.S.-China trade tensions, rising interest rates and a cooling economy to a partial U.S. government shutdown, which started on Saturday.

Among stocks, Tesla Inc rose 2.9 percent after the electric automaker named Oracle Corp co-founder Larry Ellison and Walgreens Boots Alliance`s executive Kathleen Wilson-Thompson as two independent board directors.

Advancing issues outnumbered decliners by a 1.59-to-1 ratio on the NYSE and a 1.66-to-1 ratio on the Nasdaq.

The S&P index recorded no new 52-week highs and no new lows, while the Nasdaq recorded four new highs and 52 new lows.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Pensioners ALERT: RUSH! Last date to submit digital life certificate tomorrow—Avail doorstep service from SBI, PNB, BoB and other banks

7th Pay Commission: CONFIRMED! 3% DA, DR hike for government employees, pensioners of THIS state from March 1

Indian economy 2021: With 0.4% GDP growth in 3rd quarter, country out of technical recession

Apple, Croma join hands on Jobs'' birth anniversary

CBSE exam 2021: Class 10, 12 students should know THESE 10 points before appearing for board exams

7th Pay Commission Latest News: Check out these vacancies notified by UPSC; salary up to Rs 1,77,500 plus DA and other allowances

Google fires 150 game developers hired for Stadia: Report

Govt sets 50 lakh users threshold to define 'significant social media intermediary' under IT rules

Bank Holidays March 2021: RBI says banks will remain closed on these many days next month

Ind vs Eng: Jasprit Bumrah released from squad for fourth Test

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved