US stocks close mixed: Dow Jones rises as technology shares weigh on Nasdaq
Istanbul, July 27 (Hibya) – US equity markets ended the final trading session of the week on a mixed note. While the Dow Jones and S&P 500 posted gains, selling pressure in technology stocks pushed the Nasdaq indices lower.
Investors in US equity markets assessed corporate earnings and macroeconomic developments as the major indices moved in different directions.
The Dow Jones Industrial Average (DJIA), dominated by industrial companies, rose 0.46 percent to 51,947.25, ending the session in positive territory.
The broad-based S&P 500 Index edged up 0.05 percent to 7,411.98, remaining close to record highs.
By contrast, selling pressure in technology shares weighed on the Nasdaq Composite Index, which fell 0.64 percent to 24,975.824. The Nasdaq 100 Index, which tracks major technology companies, declined 1.15 percent to 28,128.342.
The Russell 2000 Index, which reflects the performance of small-cap companies, also fell 0.35 percent to 2,929.999.
Sector divergence emerged as investors continued to closely monitor corporate earnings during the reporting season, expectations regarding the US Federal Reserve's monetary policy, and incoming economic data.
While industrial and traditional sector stocks attracted buyers, profit-taking in technology shares put pressure on the Nasdaq indices.
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