Wall Street holds steady with a boost from technology stocks

Image source, Reuters

Technology stocks boosted Wall Street on Monday, lifting the Nasdaq index to another record, though weaker economic data muted gains in other areas.

The Nasdaq jumped 43.99 points or 0.73% to 6,091.6.

The S&P 500 added 4.13 points or 0.17% to 2,388.33, but the Dow Jones Industrial Average fell 29.05 points or 0.13% to 20,913.46.

Shares in tech firms, such as Apple and Microsoft, traded up more than 1% ahead of announcements on Tuesday.

Apple is scheduled to report its quarterly profits with investors and Microsoft has scheduled a press conference in New York about education.

Netflix and Amazon stocks also climbed. The two companies could benefit from a threatened strike by the union representing US screenwriters.

If topical television shows are disrupted, more people may turn to online video and television services.

Shares of home goods stores, such as Kohl's, Bed, Bath & Beyond and Home Depot, felt the pinch, trading lower on Monday.

Somewhat weak economic data weighed down the indices.

The Commerce Department said US construction spending in March declined 0.2% from a February. The fall came in government and non-residential building.