US stocks open mixed after S&P 500 record close

IANS
Tuesday, 25 August 2020

Of the 11 primary S&P 500 sectors, financials gained 0.6 per cent, outpacing the rest. Utilities dipped 0.5 per cent, the worst-performing group.
 

US stocks opened mixed on Tuesday after the S&P 500 hit a fresh record in the previous session.

Shortly after the opening bell, the Dow Jones Industrial Average rose 65.62 points, or 0.23 per cent, to 28,374.08. The S&P 500 increased 6.09 points, or 0.18 per cent, to 3,437.37. The Nasdaq Composite Index was down 14.64 points, or 0.13 per cent, to 11,365.08, Xinhua news agency reported.

Of the 11 primary S&P 500 sectors, financials gained 0.6 per cent, outpacing the rest. Utilities dipped 0.5 per cent, the worst-performing group.

The moves followed an upbeat session on Wall Street that saw the S&P 500 climb 1 per cent to close above the 3,400 threshold for the first time.

A large share of recent gains have come from the major technology firms, analysts at UBS said in a latest note, adding "laggards and long-term themes are likely to support the next leg higher".

Investors also paid close attention to US-China relations.

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