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Markets

US stocks pause near all-time records

  • The market has also been boosted by progress on coronavirus vaccines that have raised hopes for earnings growth in 2021 and beyond.
Published February 9, 2021

NEW YORK: Wall Street stocks were steady early Tuesday, holding most gains from a recent rally fed by hopes for fiscal stimulus spending and expectations of a strong economic rebound.

Major indices, which closed at records Monday, mostly dipped as investors await developments on President Joe Biden's $1.9 trillion coronavirus relief package.

The market has also been boosted by progress on coronavirus vaccines that have raised hopes for earnings growth in 2021 and beyond.

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.3 percent at 31,292.29.

The broad-based S&P 500 slipped 0.2 percent to 3,908.90, while the tech-rich Nasdaq Composite Index edged up 0.1 percent to 13,997.67.

Among individual companies, Electronic Arts gained 0.7 percent after announcing a $2.1 billion deal by smartphone-focused game studio Glu Mobile.

Another video game developer, Take-Two Interactive Software, fell 6.7 percent as analysts pointed to uncertainty over the company's outlook for its 2022 fiscal year.

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