(Reuters) - U.S. stocks rose on Tuesday, boosted by energy stocks as oil prices rose, but gains were capped by a drop in technology stocks, with Facebook sliding on renewed concerns over its data scandal.
Facebook dropped 2 percent after the Washington Post reported a federal probe on the data breach linked to Cambridge Analytica was broadened and will include more government agencies.
The S&P technology sector fell 0.21 percent and was the only one among the 11 main S&P 500 sectors to trade lower.
The gains were led by a 1.47 percent jump in the energy sector, with all its 31 components trading higher as oil prices climbed more than 1 percent after Libya declared force majeure on significant amounts of its supply. [O/R]
Trade tensions continued to fester, with President Donald Trump on Monday warning the World Trade Organization of “doing something” if United States is not treated properly.
Also looming is a July 6 deadline when Washington is set to impose tariffs on $34 billion worth of Chinese goods.
With the markets set to close at 1 p.m. ET ahead of the Fourth of July holiday, trading volumes are expected to be thin and traders do not expect any major bets to be made.
“There’s not going to be a lot ultimately taken away from today’s trading regardless of what direction the market goes in,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
At 10:11 a.m. EDT the Dow Jones Industrial
