US STOCKS-Wall St little changed but tech weighs on Nasdaq

lunes 15 de septiembre de 2014 11:26 GYT
 

* Yahoo gives up near 3 pct jump, volume high

* Dow up 0.1 pct, S&P down 0.1 pct, Nasdaq off 0.9 pct

By Rodrigo Campos

NEW YORK, Sept 15 (Reuters) - U.S. stocks were mixed on Monday with the tech sector weighing on the Nasdaq and S&P 500 as investors make space for Alibaba's planned debut later this week.

Alibaba Group IPO-BABA.N plans to increase the size of its U.S. initial public offering because of "overwhelming" investor demand, people familiar with the deal said, giving a short-lived push to shares of Yahoo, who owns a 23 percent stake.

"Tech has done well lately so there's a little profit taking there and maybe (investors) are making some room for Alibaba," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

The tech sector of the S&P 500 closed at a multi-year record last Thursday.

Forrest also said the market is broadly in a holding pattern ahead of Wednesday's statement after the Federal Reserve's policy-setting committee meets, with investors in search of hints as to when the first U.S. rate hike in more than eight years will happen.

The Dow Jones industrial average was rising 15.53 points, or 0.09 percent, to 17,003.04, the S&P 500 was losing 2.57 points, or 0.13 percent, to 1,982.97 and the Nasdaq Composite was dropping 41.71 points, or 0.91 percent, to 4,525.89.   Continuación...