Weak Tech Leaves Market Mixed
The major averages opened the week mixed today as investors looked ahead to Election Day. Economic data was strong as the ISM Non-Mfg Index beat estimates rising to 62.5. Analysts were looking for 59.1. Communications Services (XLC) and Technology (XLK) weighed on the broader market while Energy (XLE), Financials (XLF) and defensive sectors outperformed.
Only five components were red in the DJIA as the big board shook off a -2.84% drop in shares of Apple Co. (AAPL) to post a 190.87 point gain (+0.76%) and close at 25461.70.
The S&P 500 added 15.25 points (+0.56%) to 2738.31.
The NASDAQ slipped 28.14 points (-0.38%) finishing at 7328.85.
The Russell 2000 and DJ Transports were also marginally lower.