Stocks Opened Flat as Tech, Bank Stocks Weighed
- Monday, January 8, 2018, 10:02
- Stock Market
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U.S. stocks opened flat on Monday, weighed by banking and technology stocks, following a four-day rally that has taken Wall Street to repeated records. The Dow Jones Industrial Average lately fell 24.30 points, or 0.10%, to 25,271.57. The S&P 500 was down 2.39 points, or 0.09%, to 2,740.76. The Nasdaq Composite was off 1.73 points, or 0.02%, to 7,134.83.
Oil prices advanced on Monday, adding to last week’s rally as traders welcomed data showing a weekly decline in the number of U.S. drilling rigs. West Texas Intermediate oil for February gained 36 cents, or 0.6%, to $61.80 a barrel. Brent for March dded 22 cents, or 0.3%, to $67.85 a barrel.
Kohl’s on Monday reported same-store sales during the holidays climbed nearly 7 percent from 2016. Fueled by its stronger results for November and December, Kohl’s raised its full-year profit outlook and now expects fiscal 2017 earnings per share to range from $4.10 to $4.20, versus a prior forecast of $3.72 to $3.92.
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