US Equity Markets End Lower as Technology Sector Continues to Drag Down Broader Market

MT Newswires Live12-16 05:02

US equity indexes closed lower Monday as technology stocks continued to face pressure following last week's weak showing and rising concern for the sector.

* Broadcom (AVGO) fell about 5.7% and Oracle (ORCL) dropped nearly 3% on Monday, extending last week's tech-sector losses. Wolfe Research also lowered its price target for Oracle to $250 from $275.

* The National Association of Home Builders' housing market index rose to 39 in December, up from 38 in November and matching Bloomberg estimates, marking the third consecutive monthly increase. However, the index remains below the December 2022 level of 46.

* January West Texas Intermediate crude oil fell $0.79 to settle at $56.65 per barrel, while February Brent crude, the global benchmark, was last seen down $0.74 at $60.38.

* Bristol-Myers Squibb (BMY) shares rose about 4.4% after BofA Securities upgraded the company's stock to buy from neutral and raised its price target to $61 from $52.

* ServiceNow (NOW) is in late-stage talks to buy cybersecurity company Armis for nearly $7 billion, Bloomberg reported Sunday, citing sources with knowledge of the matter. The company's shares fell roughly 11% after the report.

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The company's shares fell roughly 11% after the report.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0889565833.HKD","symbol_name":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2591621278","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2591621278","pubTimestamp":1765832533,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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