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US: Stocks stable amid Washington anxiety, vaccine optimism

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[NEW YORK] Wall Street stocks were little changed early Tuesday as markets weighed worries about elevated coronavirus cases and US political upheaval against optimism over Covid-19 vaccines.

Early trading was muted after Monday's pullback from records as investors assessed warnings of more US protests after a mob of supporters of President Donald Trump last week attacked the Capitol in an unsuccessful effort to block certification of President-elect Joe Biden's victory.

Law enforcement officials have warned of additional unrest heading into Mr Biden's January 20 inauguration, including at state capitols.

About 20 minutes into trading the Dow Jones Industrial Average edged down 0.1 per cent to 30,969.45.

The broad-based S&P 500 slipped 0.1 per cent to 3,795.28, while the tech-rich Nasdaq Composite Index was up a hair at 13,040.13.

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Monday's pullback reflected "some overdue selling interest" in the wake of the post-election rally, Briefing.com analyst Patrick O'Hare said.

But the market "continues to be governed by a bullish bias," Mr O'Hare said, adding that more armed attacks on government buildings could spur a selloff.

Among individual companies, Walmart gained 0.9 per cent as it announced a new fintech startup with Ribbit Capital, the global investment firm behind Robinhood and other ventures.

AFP

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