Major equity indexes in the U.S. finished the last trading session of the first half of 2017 on a mixed tone as the unabated recovery seen in crude oil prices cotninued to push the energy stocks higher while the biotech stocks fell sharply on profit taking.
Although the S&P technology index .SPLRCT added 0.3% on the day, it closed the month with losses for the first time in 2017. After gaining nearly 9% since the start of the year, investors may finally be looking to cash in some profits. “Are we going to see a broadening of the rally, where you see more of the financials and other sectors fill in some of the gaps?” Alan Lancz, president of Alan B. Lancz & Associates Inc., an investment advisory firm in Toledo, Ohio, told Reuters.
The S&P 500 closed the day virtually unchanged at 2,420.50 points. Despite the difficulty gathering momentum lately, the S&P 500 added 12.6% in the first six months of the year, recording its biggest first half gains in four years. The Dow Jones Industrial Average rose 62.6 points, or 0.3%, to 21,349.63 and the Nasdaq Composite dropped 3.93 points, or 0.06%, to 6,140.42.
Headlines from the U.S. session
- US: Key data for next week – Danske Bank
- WTI on track for biggest weekly gain in more than 7 months
- US ISM Manufacturing preview: Index to remain near the 55 mark – Wells Fargo
- US: Income growth remains strong – Wells Fargo
- NY Fed Nowcast: GDP growth 1.9% for 2017:Q2
- US: UoM Consumer Sentiment Index (final) increased to 95.1
- US: Chicago business barometer up 6.3 points in June
- Trump Administration has shown little sympathy for Europe – BBH