U.S. stocks run into heavy weather, Dow Jones however edges higher

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NEW YORK, New York – U.S. stock markets were indecisive Monday. Industrial shares rose modestly, while the tech sector was sold off.

“What we’re seeing is a change in the season, and it’s shifting to some of the more cyclical areas of the market,” Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut told Reuters news agency Monday. “Today is an indication as to what you’re going to see going forward.”

At the close on Monday, the Dow Jones was ahead 71.37 points or 0.21 percent at 34,869.37.

The Nasdaq Composite declined 77.73 points or 0.32 percent to 14,969.97.

The Standard and Poor’s 500 slipped 12.37 points or 0.28 percent to 4,443.11.

The U.S. dollar rose in response to a rise in Treasury yields. The euro dropped to 1.1698 approaching the New York close Monday. The British pound was sold off to 1.3704. The Japanese yen hit a months-long low of 111.00. The Swiss franc was little changed at 0.9258.

The Canadian dollar was steady at 1.2626. The Australian dollar pushed ahead to 0.7290. The New Zealand dollar traded in a tight range around 0.7018.

Share markets in the UK and Europe managed slight gains. The FTSE 100 in London edged up 0.07 percent. The Paris-based CAC 40 was ahead 0.19 percent. The Dax in Germany rose 0.27 percent.

On markets in Asia, the Australian All Ordinaries did best, rising 41.40 points or 0.54 percent to 7,690.70.

In Japan, the Nikkei 225 slid 8.75 points or 0.03 percent t0 30,240.06.

China’s Shanghai Composite dropped 30.24 points or 0.84 percent to 3,582.83.

The Hang Seng in Hong Kong inched up 6.66 points or 0.03 percent to 30,240.06.