By Caroline Valetkevitch
NEW YORK (Reuters) - U.S. stocks mostly edged higher on Monday, rebounding slightly after last week's losses, although a drop in Apple kept gains in check.
The Dow was flat, with Travelers
"People are trying to test the waters after the selling last week," said Robert Pavlik, chief investment strategist, senior portfolio manager at SlateStone Wealth LLC in New York.
U.S. President Donald Trump said on Friday he was ready to levy additional taxes on practically all Chinese imports, threatening duties on $267 billion of goods over and above planned tariffs on $200 billion of Chinese products. China said it will respond if Washington takes any new steps on trade.
Among the gainers, Nike
At 3:21 p.m. ET, the Dow Jones Industrial Average <.DJI> fell 20.89 points, or 0.08 percent, to 25,895.65, the S&P 500 <.SPX> gained 8.43 points, or 0.29 percent, to 2,880.11 and the Nasdaq Composite <.IXIC> added 25.69 points, or 0.33 percent, to 7,928.23.
Republicans in the U.S. House of Representatives plan to unveil tax cuts this week, intended to augment Trump's 2017 tax overhaul that added $1.5 trillion to the federal deficit through permanent tax cuts for U.S. companies.
Advancing issues outnumbered declining ones on the NYSE by a 1.71-to-1 ratio; on Nasdaq, a 1.14-to-1 ratio favoured advancers.
The S&P 500 posted 44 new 52-week highs and 5 new lows; the Nasdaq Composite recorded 105 new highs and 62 new lows.
(Additional reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Nick Zieminski)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Updated Date: Sep 11, 2018 02:05 AM