US stocks waver narrowly ahead of Presidents’ Day

New York, Feb 18 (IANS) US stocks fluctuated between small gains and losses in the morning session on Friday, as investors were reluctant to make bullish bets ahead of the Presidents’ Day holiday.

The Dow Jones Industrial Average fell 62.64 points, or 0.30 per cent, to 20,557.13, Xinhua news agency reported. The S&P 500 lost 4.98 points, or 0.21 per cent, to 2,342.24.

The Nasdaq Composite Index edged up 0.29 point, or 0.01 per cent, to 5,815.19.

US stocks have posted solid gains since President Donald Trump won the presidential election, as investors bet that he would pursue massive corporate tax cuts, deregulation and infrastructure spending.

On Thursday, US stocks finished narrowly mixed, with the Dow extending its record run to a sixth straight day, as Wall Street digested a batch of economic reports.

Till Thursday, the Dow had risen 12.5 per cent since the Election Day.

Investors became cautious after recent sharp gains, as the US stock markets will be closed on Monday for the Presidents’ Day holiday.

–IANS

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