US stocks mixed as investors shrug Comey remarks

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US stocks were mixed by late-morning trading as investors appeared to shrug off FBI director James Comey’s remarks during testimony before the House intelligence committee. Meanwhile, a renewed sell-off in oil weighed on energy shares, even as investors await remarks from Federal Reserve speakers through the week.

The S&P 500 was down 0.1 per cent to 2,376.84 paring back some of its earlier losses — with shares of energy and utilities companies leading the drop. The Dow Jones Industrial Average rose 0.1 per cent to 20,939.89, while the Nasdaq Composite was also up 0.1 per cent to 5,906.74.

Elsewhere, the yield on the US 10-year Treasury, which moves inversely to price, fell 2.2 basis points to 2.479 per cent.

Investors appeared to shrug off Mr Comey’s remarks that the Federal Bureau of Investigation is probing Russian interference into the US election, including any potential links between the Trump campaign and the Russian government. Mr Comey separately also said the FBI has “no information that supports” tweets from Donald Trump accusing Barack Obama of wiretapping his campaign.

Following the Fed’s rate rise last week that was accompanied with an unchanged outlook on rate rises this year, investors are also gearing up to hear from a handful of voting members of the Fed’s monetary policy setting Federal Open Market Committee, including chair Janet Yellen on Thursday.

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