US stocks mostly flat after four-day record streak

US stocks mostly flat after four-day record streak
Updated on

Summary Both the Dow and the S&P scored records in the prior four sessions.

NEW YORK (AFP) - Wall Street stocks were little changed Tuesday after posting a four-day streak of record closing highs.

After 45 minutes of trade, the Dow Jones Industrial Average was down 14.00 points (0.08 percent) at 17,599.74 and the broad-market Standard & Poor s 500 edged down 0.58 (0.03 percent) to 2,037.68.

The tech-rich Nasdaq Composite slipped 4.50 (0.10 percent) to 4,647.12.

The bond market and banks were closed in observance of the Veterans Day holiday.

"There isn t any economic data out of the US today, so market participants will be resigned to watch the movement in currencies and commodities for some extra trading motivation," said Patrick O Hare of Briefing.com.

Chinese e-commerce giant Alibaba reported $8 billion of goods were sold so far through its online payment arm Alipay in its first global Singles Day promotion on Tuesday, with more than three hours to go before the end of the promotion on midnight.

Shares in Alibaba, which completed the world s largest stock offering in September, fell 2.7 percent.

Dow member McDonald s was flat. The fast-food giant announced Monday it was recalling a whistle in a Hello Kitty-themed toy offered with children s meals in the US and Canada, citing a choking hazard.

DR Horton, one of the largest US home builders, reported fiscal fourth-quarter earnings of $166.3 million that missed estimates, but higher revenues on stronger home prices. Shares rose 0.7 percent.

Zynga soared 3.2 percent. The social gaming company last week reported solid third-quarter earnings and strong growth in mobile bookings.
 

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