The S&P 500 ended up slightly and the Nasdaq fell on Monday (US time) as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a US fiscal support bill.
The Nasdaq, which hit a record high every day of last week, was dragged lower by Microsoft, Amazon.com and Facebook. The Dow sharply outperformed the other two major indexes.
Unofficially, the Dow Jones Industrial Average rose 1.3 per cent, the S&P 500 gained 0.3 per cent and the Nasdaq Composite dropped 0.4 per cent. The Australian sharemarket is facing a flat start, with futures at 6.18am AEST pointing to a gain of 2 points at the open.
Value stocks, which tend to outperform growth coming out of a recession, have gotten a lift in recent days. The Russell 1000 value index rose, while the Russell 1000 growth index slipped.