US: Stocks flat as IMF lifts outlook

[NEW YORK] Wall Street stocks were little changed early Tuesday as the IMF lifted its 2021 global growth forecast in light of coronavirus vaccinations.

The Dow was down slightly while the S&P 500 was flat after both indices finished at all-time highs on Monday in the aftermath of strong US hiring and industrial data as the country's vaccination campaign picks up speed.

The IMF increased its forecast for global growth to 6.0 per cent this year from the prior 5.5 per cent following a flood of government spending, especially in the United States.

Analysts said Tuesday's early trading reflected the market digesting the new highs.

About 15 minutes into trading, the Dow Jones Industrial Average dipped 0.1 per cent to 33,485.65.

The broad-based S&P 500 was essentially flat at 4,077.49, along with the tech-rich Nasdaq Composite Index, which was at 13,711.16.

Investors are looking ahead to the start of first-quarter earnings season later this month amid optimism that the reopening economy will bolster many businesses.

AFP