Investing.com – Wall Street was mixed on Monday, as investors remained cautious ahead of mid-term elections and news of Apple halting additional production lines weighed on technology stocks.
The S&P 500 rose 7 points or 0.28% to 2,730.68 as of 9:39 AM ET (13:39 GMT), while the Dow increased 105 points, or 042%, to 25,376.16 and the tech-heavy Nasdaq Composite was down 33 points, or 0.45% to 7,323.99.
Apple Inc (NASDAQ:AAPL) slumped 2.29% after the morning bell amid reports that it told its top smartphone assemblers Foxconn and Pegatron to halt plans for additional production lines dedicated to the iPhone XR.
Amazon.com (NASDAQ:AMZN) was down 1.29% while Facebook (NASDAQ:FB) dipped 0.50% and Netflix (NASDAQ:NFLX) lost 0.21%.
Meanwhile Berkshire Hathaway (NYSE:BRKa) jumped 4.10% after the company reported doubling its profit in the third quarter and said it had bought back $928 million of its own stock during the period. General Electric (NYSE:GE) gained 2.21% while Ford Motor (NYSE:F) rose 0.96% and Boeing (NYSE:BA) increased 0.71%.
Investors are also waiting for results of the U.S. congressional midterm elections on Tuesday, with opinion polls showing the Democratic Party could win control of the House of Representatives, while the Republican Party is likely to hold onto the Senate.
In commodities, gold futures increased 0.19% to $1,233.20 a troy ounce while crude oil futures rose 0.95% to $63.74 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.11% to 96.44.