US stocks erase gains on tech pressure

US stocks erased earlier gains today, Dec. 15, as renewed pressure weighed on the technology sector, while investors awaited labor-market data due later this week.

The Dow Jones Industrial Average was little changed at 48,440 as of 7:18 pm Makkah time, after rising to an intraday high of 48,679.

The S&P 500 added 0.1% to 6,836 after touching 6,861, while the Nasdaq Composite was flat at 23,186, having earlier climbed to 23,345.

Oracle shares fell 2.95% to $184.37, while Broadcom slid 3.70% to $346.74, as investors assessed the companies’ earnings released last week. Microsoft slipped 0.70% to $475.09.

Investors are awaiting the release of the US nonfarm payrolls report for November on Dec. 16, which includes October data, for further signals on the outlook for the American labor market.