|Published : 17 Mar 2017, 21:13:15|
US stocks little change as healthcare stocks weigh
US stocks were little changed on Friday as a slide in Amgen dragged down the healthcare sector, offsetting gains in technology shares, reports Reuters.
Investors are keeping a close eye on the Group of 20 meeting in Germany, where financial leaders and central banks discuss the world economy.
The S&P 500 healthcare sector was off 0.4 per cent, dragged down by a 6.3 per cent drop in Amgen.
Analysts said data from a large study testing the impact of Amgen's cholesterol drug on the heart was weaker than expected.
Amgen was also the biggest drag on the broader S&P 500 index and the Nasdaq.
However, ten of the 11 major S&P 500 sectors were higher, with the technology sector up 0.21 per cent.
Adobe gave the biggest push to the sector, rising 6.2 per cent after the Photoshop maker's quarterly results beat analysts' expectations.
At 9:41 am ET (1341 GMT), the Dow Jones Industrial Average was up 13.29 points, or 0.06 per cent, at 20,947.84, the S&P 500 was up 1.25 points, or 0.05 per cent, at 2,382.63.
The Nasdaq Composite was down 1.58 points, or 0.03 per cent, at 5,899.18.
Tiffany's shares rose 3.0 per cent to $92.73, after the company posted a better-than-expected fourth-quarter profit, boosted by strong demand for its high-end jewellery in Japan and China.