Business

US markets edge higher, lifted by tech

NYSE traders Image copyright BRYAN R. SMITH/AFP/Getty

US stocks held steady on Friday, as gains in energy and tech stocks outweighed declines in firms focused on consumer goods.

The Dow Jones was little changed, falling 0.01% to 21,394.76 while the wider S&P 500 index rose 0.2% to 2,438.3.

The tech-heavy Nasdaq index rose 0.5% to 6,265.25.

Bed Bath & Beyond was among the biggest losers, falling more than 12% after reporting weak quarterly sales.

The home goods chain said on Thursday that quarterly sales increased 0.1% from the same period in 2016, and sales through comparable channels fell 2%.

Home Depot also slid 2.7%, despite a government report showing an increase in sales of new homes.

The losses were offset by improvement in tech stocks, which had suffered declines in recent weeks.

Microsoft shares climbed 1.4%, while Apple gained 0.5%.