Market Update & Important Indicators:
Shares of technology companies rallied intraday to lift the S&P 500, even as investors grappled with the Trump administration's threat to deepen its trade spat with China. Tech stocks continued to flex their muscles after several more companies, including car maker Tesla and software company Global Payments, reported upbeat results. The gains spilled over to the broader tech sector, while a post-earnings bounce helped to push Apple's market value above $1 trillion in recent trading, making it the first U.S. company ever to surpass that mark. Even after companies like Facebook and Netflix disappointed investors with weaker-than-expected results, tech firms in the S&P 500 are on pace to grow earnings by 32% from a year earlier, topping the rosy estimates analysts had pegged to the sector last month, according to FactSet. The Dow Jones Industrial Average fell 8 points, or 0.1%, to 25,326 as trade-sensitive stocks like Boeing pulled the blue-chip index lower. The US gold price was down 0.7% to record 1,207.20 US$/oz.
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