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Main US indexes

Main US indexes dropped on Tuesday

The main US indexes dropped on Tuesday, despite the rise in stock prices for tech companies. The broader S&P 500 index fell by 0.4% to 2,629.57 points, with weakest sectors within the composition being telecommunication, industrial and communal. Thus, the index recorded its first three-day series of declines since August. The IT sector reported an increase of 0.2% and was the only sector of green. Shares on Facebook, Netflix and Google Alphabet parent company rose.

The index Dow Jones Industrial Average fell by 109.41 points to 24,180.64 points.

Technological Nasdaq Composite wiped out the earlier increases and stepped back with 0.2% to 6,762.21 points. The index also recorded a three-day series of declines.

The technology sector, which has so far been the most successful since the beginning of the year, has recently suffered losses after declining by about 4% last year.

On the corporate front, Snap’s stock price rises sharply up 10.1% after Barclays investment bank announced that social media could reach a “turning point” in 2018. McDonald’s shares rose by 1.4% after the investment bank Jefferies raised its mark on them and has already recommended a purchase.

Disney shares declined by nearly 3% after CNBC reported that the company was close to acquiring 21st Century Fox’s key assets.

About James McGovern

James McGovern is from Arizona, USA. He is business analyst and writer at Finance Apprise Journal, responsible for finance and trading sections, as well as news from USA and Canada.

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