Stocks wobbled between small gains and losses in afternoon trading on Tuesday (US time), after the major stock market indexes hit record highs the day before. Investors continue to keep their eyes on Washington, where it appears Democrats plan to move ahead without Republican help on a major stimulus bill for the economy.
In early afternoon trade, the S&P 500 index was flat, the Dow Jones Industrial Average has inched 0.1 per cent higher and the Nasdaq has added 0.3 per cent. A slight pullback after six straight days of gains is not uncommon, as investors pause during a rally to reassess and wait for more economic data to see where the market goes next.
Wall Street’s winning streak is in danger.Credit:AP
Despite the soft lead, the Australian sharemarket is set for gains, with futures at 4.51am AEDT pointing to a rise of 17 points, or 0.3 per cent, at the open.
The S&P 500 was nearly evenly split between gainers and losers, with communications companies rising the most. A mix of companies that deal with consumer services and products were the biggest drag on the broader market.
