(Reuters) - The Dow and the S&P 500 were little changed, while the Nasdaq was firmly higher, propped up by the high-flying technology trio of Apple, Amazon and Microsoft.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 18, 2018. REUTERS/Brendan McDermid
The S&P tech sector .SPLRCT was up 0.2 percent. Tech stocks have been at the center of a sharp recovery in the S&P since a market rout in February, driving the index close to its record high.
Shares of Apple (AAPL.O) rose 1 percent, while those of Amazon (AMZN.O) were up 0.5 percent and Microsoft (MSFT.O) 0.3 percent.
“The S&P has been climbing gradually amid geopolitical and trade concerns,” said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville, New Jersey.
“Investor mindset has been predicated on a strong economy and a longer-term perspective, and that has been playing out very nicely.”
The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting that a strong economy was helping the labor market counter ongoing trade tensions.
At 9:50 a.m. EDT the Dow Jones Industrial Average .DJI was down 14.63 points, or 0.06 percent, at 25,569.12, the S&P 500 .SPX was unchanged at 2,857.70 and the Nasdaq Composite .IXIC was up 11.39 points, or 0.14 percent, at 7,899.72.
Seven of the 11 main S&P sectors were higher. The materials sector .SPLRCM led the gains as aluminum prices rose.
Sinclair (SBGI.O) dropped 4 percent after Tribune Media (TRCO.N) ended its $3.9 billion deal to be acquired by Sinclair and filed suit. Tribune shares rose 2.2 percent.
Rite Aid (RAD.N) fell
