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Headlines

US stocks close mixed as market cautious about global trade

New York, May 9  

US stocks ended mixed on Wednesday, as investors closely followed the development regarding global trade and maintained a wait-and-see attitude toward the market.

The Dow Jones Industrial Average increased 2.24 points, or 0.01 percent, to 25,967.33. The S&P 500 was down 4.63 points, or 0.16 percent, to 2,879.42. The Nasdaq Composite Index was down 20.44 points, or 0.26 percent, to 7,943.32, the Xinhua news agency reported.

Eight of the 11 primary S&P 500 sectors traded lower around market close, with the utility sector down nearly 1.4 percent, leading the laggards.

Half of the 30 blue-chip stocks in the Dow rose around the closing bell, keeping the Dow's overall gains in check yet still propping up the index into the green zone.

Shares of McKesson rose nearly 4.8 percent, as the US pharmaceutical distributor's first-quarter earnings beat market estimates, thanks to its stronger surgical distribution business.

Yet shares of TripAdvisor tumbled over 11.4 percent after the travel review platform reported first-quarter revenue that missed market expectations.

The company also forecast a weakening growth in its non-hotel revenue.

Wall Street kicked off the third trading day with a slightly low start, with the Dow sliding a minor 0.02 percent shortly after the opening bell.

The three major indexes erased all its morning losses around midday and rebounded into the green territory.

Yet only the Dow kept bouncing back during afternoon sessions. The S&P 500 and the Nasdaq both retreated to slight losses.

US stocks ended sharply lower on Tuesday, as the panic among investors mounted over intensifying global trade frictions, with the Dow diving 473.39 points, or 1.79 percent to 25,965.09.