(MENAFN- Baystreet.ca) Stocks Give up Gains, Flat by Noon
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Stocks were little changed on Monday, following the S&P 500's third straight weekly gain, as investors shifted focus to a key inflation report this week and struggles for the semiconductor industry.
The Dow Jones Industrials actually fell into the red 1.56 points to 32,801.91
The S&P 500 slipped 7.35 points to 4,137.84.
The NASDAQ Composite dropped 19.19 points to 12,638.36.
Nvidia announcing weak revenue for the second quarter, putting pressure on semiconductor stocks.
Some clean energy related shares gained after the Senate passed a $430-billion climate bill, the Inflation Reduction Act, which is expected to be passed by the House later this week.
Treasury prices strengthened, lowering yields to 2.77% from Friday's 2.82%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.33 to $90.34 U.S. a barrel.
Gold prices hiked $12.50 to $1,803.70 U.S. an ounce.
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