US: Nasdaq rises again ahead of tech earnings, Dow drops

[NEW YORK] The Nasdaq jumped in early trading Monday ahead of earnings from tech giants, while the Dow fell on uncertainty about US President Joe Biden's stimulus package and mixed Covid-19 vaccine news.

This week's busy news calendar includes earnings reports from Apple, Microsoft and other tech giants, as well as a Federal Reserve monetary policy announcement. Results are also expected from Boeing and Chevron, among other companies.

Markets are also watching the developments in Washington, where centrist lawmakers have responded skeptically to Mr Biden's proposed US$1.9 trillion economic relief package.

About 20 minutes into trading, the Dow Jones Industrial Average was down 0.6 per cent to 30,812.25.

The broad-based S&P 500 added 0.2 per cent at 3,849.94, while the tech-rich Nasdaq Composite Index advanced 1.2 per cent to 13,700.05, extending a rally that has lifted it to three straight records.

AFP

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL