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US stocks little changed after Nasdaq record

Jun 05 2018 16:20

Wall Street stocks were little changed early on Tuesday as investors weighed whether the prior session's record Nasdaq would spark further gains.

About 25 minutes into trading, the Dow Jones Industrial Average was down 0.1% at 24 800.31.

The broad-based S&P 500 added 0.1% at 2 748.77, while the tech-rich Nasdaq Composite Index rose 0.3% to 7,632.53, adding to Monday's record.

US stocks opened 2018 with a bang, repeatedly notching records in January before worries about a trade war and rising interest rates quashed the momentum.

But markets have begun to move higher over the last few weeks, propelled by strong earnings and the hope that harsh trade rhetoric by President Donald Trump's administration may not result in meaningful action.

Analysts vary on their outlooks, with Canaccord Genuity equity strategist Tony Dwyer targeting a 2018 close of S&P 500 at 3 100 and 2019 close of 3 360 and citing strong earnings fundamentals.

But CFRA adopted a more measured outlook, recommending investors trim their international equity holdings and boost cash. It cited factors that included the higher US dollar and "increased geopolitical tensions, along with rising volatility."

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equities  |  wall street  |  markets


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