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Wall St advance loses steam as Caterpillar reverses; Biogen climbs

The greenback had suffered its biggest daily percentage drop in seven months after US Treasury Secretary said he welcomed a weaker currency

Reuters  |  New York 

The S&P 500 was little changed on Thursday as early gains spurred by solid earnings reports and a decline in the dollar evaporated and Caterpillar shares turned negative. Biogen Inc gained 0.66 per cent after the drugmaker reported fourth-quarter revenue that beat Wall Street estimates on higher sales of recently-launched drug Spinraza. But the early drive higher stalled as Caterpillar Inc shares turned negative after rising as much as 2.8 per cent. Shares were last down 1.03 per cent as investors booked profits in a stock that was up about 8 per cent heading into the ...

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First Published: Thu, January 25 2018. 23:45 IST