Stocks meandered around the breakeven mark as investors digested a slew of earnings reports and mixed economic news.
The Nasdaq, fueled by its most heavily weighted components, posted its longest winning streak in more than two years.
Stocks posted moderate gains ahead of the kickoff of second-quarter earnings season, which begins in earnest tomorrow with the earnings reports of several major U.S. financial institutions.
Stocks recovered from a mid-session swoon to close essentially flat, with a sudden drop in the major indexes after the release of emails from President Trump’s son Donald Trump Jr. related to the Russia investigation.
A strong jobs report boosted stocks and the U.S. dollar, while raising expectations that the Federal Reserve would continue raising interest rates this year.
The technology sector rout resumed in today’ session, pulling the major indexes deeply into the red, although they closed off their lows for the day.
Stocks were mired in the red for most of the session, but losses steepened after word broke that the U.S. Senate would delay consideration of its health care bill due to lack of Republican votes.
Stocks struggled to make gains in the headwind of continued weakness in technology shares, with the S&P 500 Index barely keeping its head above water and the tech-heavy Nasdaq sinking.
The price of crude oil pulled out of its slide, giving a modest boost to stocks for most of the session, but a late-session swoon left the major indexes closing essentially flat.