US stocks have barely budged, with slight gains in shares of Apple offset by mixed economic data that added to caution over the prolonged US-China trade war. Apple rose 0.5 per cent after US trade regulators approved 10 of 15 requests for tariff exemptions by the iPhone-maker. Micron Technology, which supplies components to Apple, advanced 0.9 per cent.
US employment in the services sector shrank for the first time in 9?? years in September, IHS Markit’s Purchasing Manager’s Index showed. The data also showed manufacturing activity rose in September, topping expectations. Earlier in the day, a survey showed a manufacturing recession deepening in Germany, Europe’s biggest economy. Investors also have been cautious about progress in Sino-US trade talks after a Chinese agriculture delegation cancelled a visit to Montana.
The Dow Jones Industrial Average on Monday rose 14.92 points, or 0.06 per cent, to 26,949.99; the S&P 500 lost 0.29 points, or 0.01 per cent, to 2,991.78; and the Nasdaq Composite dropped 5.21 points, or 0.06 per cent, to 8,112.46. American Express shares gained 1.2 per cent after it announced a share repurchase plan and a dividend increase. Boeing edged lower after a Reuters report that European antitrust regulators were set to investigate the plane-maker’s $US4.75 billion ($7.02 billion) bid for the commercial aircraft arm of Brazil-based Embraer.Morning-Market-Note-Tuesday-24th-September