© Reuters.

Investing.com – The S&P 500 dipped slightly Thursday on trade uncertainty and a fall in tech stocks led by Facebook.

The lost 0.09%, while the fell 0.16%. But rose 0.03%.

Facebook (NASDAQ:) came under pressure after The New York Times reported federal prosecutors had launched a probe into data deals the company made with other tech giants.

Losses in tech stocks, however, were offset by rise in Apple (NASDAQ:) amid bullish calls from analysts.

S.G. Cowen initiated coverage of Apple with an outperform rating, helping the iPhone maker add to its gains of more than 6% this week.

On the trade front there was little to cheer amid a Bloomberg report that a meeting between U.S. President Donald Trump and Chinese counterpart Xi Jinping, expected to take place at the end of March, could be pushed back to at least April.

Trade-sensitive sectors like materials and industrials ended lower, though the latter was underpinned by a sharp rise in shares of General Electric (NYSE:) on upbeat remarks from GE CEO Larry Culp about the conglomerate’s struggling power business.

Culp expects the company to generate fiscal 2019 adjusted profit between $0.50 to $0.60 a share and said he expected the power business to be “significantly better but negative” in 2020.

Retailers also weighed on the broader market, falling more than 1% amid a slump in shares of Dollar General (NYSE:) on mixed fourth-quarter results.

Cloudera also delivered mixed , sending its share price tumbling 20%.

After hours, Oracle (NYSE:) posted that beat expectations from Investing.com. Oracle posted earnings of $0.87 a share on revenues of $9.6 billion.

In other corporate news, Johnson & Johnson (NYSE:) reportedly was ordered to pay $29 million to a woman who claimed that asbestos in the company’s talcum-powder-based products caused her cancer. Its shares fell 1%.

On the economic front, fell by more than forecasts in January. But analysts downplayed the weakness, saying the housing market could be set for a turnaround in the coming months thanks to a decline in mortgage rates.

“(H)ousing demand should pick up in coming months in response to the recent decline in mortgage rates, Residential construction will have a more neutral impact on the economy this year, compared with the persistent dragging effect of last year,” BMO said in a note.

Top S&P 500 Gainers and Losers Today:

TechnipFMC (NYSE:), Lam Research (NASDAQ:) and General Electric (NYSE:) were among the top S&P 500 gainers for the session.

Dollar General (NYSE:), Take-Two Interactive Software (NASDAQ:) and Nektar Therapeutics (NASDAQ:) were among the worst S&P 500 performers of the session.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link