Dow, S & P 500 end up slightly after trade talk news; Apple briefs

NEW YORK (Reuters) – The Dow and S & P 500, the Nasdaq fell following a decline in its US-China trade talks, while the Nasdaq fell following a decline in Apple as it was unveiled larger iPhones offerings.

The Trump administration has reached out to China for a new round of trade talks to punitive tariffs on $ 200 billion worth of Chinese goods, according to two people familiar with the matter.

Pink trade-sensitive stocks, including Boeing (BA.N), up 2.4 percent.

Apple (AAPL.O) shares were down 1.2 percent. The company also unveiled health-oriented watches based on the design of current models.

"Looks like the Street is yawning at Apple's new iWatch, iOs12 and iPhone offerings," said Daniel Morgan, senior vice president and senior portfolio manager at Synovus Trust Company in Atlanta. "This adds to the concerns on tariffs, social media testimony and chips to make it a tough day for tech."

Shares of fitness device rival Fitbit Inc (FIT.N) fell 6.9 while shares of Garmin Ltd (GRMN.O) lost some earlier earnings and were flat after the launch of Apple's latest Apple Watch.

The S & P technology index .SPLRCT was down 0.5 percent, reversing Tuesday's gains, with fears of further deregulation also hurting Apple's social media names.

The Dow Jones Industrial Average rose .DJI 27.86 points, 0.11 percent gold, 25.998.92, the S & P 500 .SPX gained 1.03 points, 0.04 percent gold, 2.888.92 and the Nasdaq Composite .IXIC dropped 18.25 points, 0.23 percent gold, to 7.954.23.

Six major Web and Internet service companies, including Apple, are looking at their data privacy practices at a Senate Senate panel on Sept. 26, raising the specter of the possibility of strict regulation.

Among the six companies to testify later this month, Twitter (TWTR.N) shares were down 3.7 percent, while Alphabet (GOOGL.O) was down 1.5 percent.

Facebook (FB.O), not among the companies to testify, was down 2.4 percent.

The Philadelphia Semiconductor index. Is down 1.2 percent after Goldman Sachs becomes the largest brokerage of the market for chips and chips due to an oversupply of DRAM and NAND chips. Micron (MU.O) slid 4.3 percent, while Applied Materials (AMAT.O) was down 2 percent.

Financial shares lost ground with 10-year bond yields US10YT = RR. The S & P Financial Index .SPSY was down 0.9 percent.

Advancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, has 1.12-to-1 ratio favored decliners.

The S & P 500 posted 31 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 81 new highs and 89 new lows.

About 7.1 billion shares changed hands on U.S. exchanges. That compares with the 6.2 billion daily average for the past 20 trading days, according to Thomson Reuters data.