U.S. stocks end mixed as tech lags

  • World
  • Tuesday, 09 Aug 2022

NEW YORK, Aug. 8 (Xinhua) -- U.S. stocks finished mixed on Monday, dragged by weakness in the tech sector.

The Dow Jones Industrial Average increased 29.07 points, or 0.09 percent, to 32,832.54. The S&P 500 fell 5.13 points, or 0.12 percent, to 4,140.06. The Nasdaq Composite Index declined 13.09 points, or 0.10 percent, to 12,644.46.

Seven of the 11 primary S&P 500 sectors ended in green, with real estate and materials up 0.71 percent and 0.55 percent, respectively, outpacing the rest. Technology slid 0.88 percent, the worst-performing group.

Nvidia shares dropped 6.3 percent after the semiconductor company disclosed that it expects to fall well short of revenue expectations for the latest quarter, largely due to gaming weakness.

Wall Street awaited a key inflation report as the July U.S. consumer prices index (CPI) is slated for release on Wednesday.

Headline CPI, which includes energy and food, is expected to dip to 8.7 percent from June's reading of 9.1 percent, according to Dow Jones estimates.

For the week ending Friday, the Dow lost 0.1 percent, while the S&P 500 and the tech-heavy Nasdaq rose 0.4 percent and 2.2 percent, respectively.

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