Tech stocks take Nasdaq closer to record

Dow Jones Industrial Average fall on weak energy stocks

Beijing announced Wednesday it would counter the most recent round of US tariffs with its own.

The technology sector has been at the centre of a sharp recovery in US stocks since a market rout in February.

Shares of Apple (AAPL.O) rose 0.8 percent, while those of Amazon (AMZN.O) were up 0.6 percent and Microsoft (MSFT.O) 0.4 percent.

Markets have largely shrugged off trade issues as indicated by the S&P 500's (SPX) recent rise.

At 9:53 a.m. EDT the Dow Jones Industrial Average was down 38.77 points, or 0.15 percent, at 25,590.14, the S&P 500 was down 2.83 points, or 0.10 percent, at 2,855.62 and the Nasdaq Composite was down 7.72 points, or 0.10 percent, at 7,875.95. On the other hand, boosted by upbeat earnings from Motorola and T-mobile earlier this week, the S&P 500 Telecom Service Sector extended its upside and closed with a 1% gain.

Russia's dollar-traded RTS index plunged over three percent, Brazil Bovespa index was losing 2.3 percent, and the Turkish Borsa Istanbul index saw a 5.4 percent sell-off.

Pogba leads Manchester United to winning Premier League start
United were interested in signing Raphael Varane of Real Madrid and were looking to splash over £100m for the World Cup victor . He scored his first senior team goal with a lovely move around his defender and a fine finish to the far post.

For the week, the Dow fell 0.6 per cent and the S&P 500 dipped 0.3 per cent. Tribune shares rose 2.9 percent.

Chip stocks fell after Morgan Stanley downgraded the USA semiconductor industry. The Nasdaq Composite rose 0.2 percent as Amazon shares hit an all-time high while Apple rose almost 1 percent.

However, chip stocks fell after Morgan Stanley downgraded the US semiconductor industry, saying upside to estimates is hard to come by.

Lam Research, Micron, Applied Materials and ON Semiconductor fell between 1 percent and 4.7 percent.

Declining issues outnumbered advancers for a 1.55-to-1 ratio on the NYSE and for a 1.20-to-1 ratio on the Nasdaq. The report comes as the latest reading of the consumer price index - a key metric for inflation - is set for release on Friday. This article is strictly for informational purposes only. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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