US stocks waver again as energy companies fall
A miniature reproduction of Arturo Di Modica's "Charging Bull" sculpture sits on display at a street vendor's table outside the NYSE on Oct. 25, 2016. Credit: AP
Technology and energy companies skidded Friday while banks and insurers recovered some of their recent losses, leaving major U.S. indexes little changed on the day and slightly lower for the week.
Credit monitoring company Equifax plunged after it disclosed a data breach that affects 143 million Americans, while data security companies like Symantec jumped as investors expected they will get more business.
Grocery stores and food companies slumped as Kroger said stiff competition forced it to cut prices. Target also said it is lowering prices.
Hurricane Irma continued to devastate islands in the Caribbean, while Irma was expected to hit Florida over the weekend with winds surpassing 130 miles per hour. Experts think the storms will slow U.S. economic growth in the third quarter.
“The next couple of months are going to be pretty cloudy,” said David Chalupnik, head of equities at Nuveen Asset Management.
The Standard & Poor’s 500 index lost 0.1 percent, to 2,461.43. The Dow Jones industrial average gained 13.01 points, or 0.1 percent, to 21,797.79. The Nasdaq composite dropped 0.6 percent, to 6,360.19. The Russell 2000 index of smaller-company stocks rose 0.1 percent, to 1,399.43. More stocks fell than rose on the New York Stock Exchange. — AP
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Lab results due on Bethpage drums ... Trump on trial ... Best LI high schools ... Knicks go up 2-0
