By Lewis Krauskopf, Shashank Nayar and Medha Singh (Reuters) - Wall Street s main indexes edged higher on Tuesday, with gains in energy and financial shares countering declines in tech and healthcare, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation. The S&P 500 financial sector hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector over 3%. The heavyweight tech sector dipped while healthcare was dragged down by a weak profit forecast from Abbott Laboratories. Data showed U.S. manufacturing activity picked up in May as pent-up demand in a reopening economy boosted orders. But unfinished work piled up because of shortages of raw materials and labor.
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(Reuters) - The S&P 500 dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.
FILE PHOTO: A Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermid/File Photo
The S&P 500 financial sector hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector 3.9%, its biggest one-day gain in nearly four months. The heavyweight tech sector fell while the healthcare sector was dragged down by a weak profit forecast from Abbott Laboratories.