By Rex Crum
Technology stocks muddled their way through the start of
Tuesday's trading session with few advancers emerging, as the
sector appeared to be in a holding pattern along with the broader
market ahead of a U.S. Federal Reserve decision on interest
rates.
Among leading tech stocks, small gains came from Microsoft Corp.
(MSFT), Seagate Technology (STX), Cisco Systems Inc. (CSCO) and
Intel Corp. (INTC).
Google Inc. (GOOG) shares rose $2.32 to $565.39. Before the
market opened, China's commerce ministry said it hadn't received
any documents pertaining to Google possibly closing its
Chinese-language search site. Google has said it is considering
shutting down the site due to a dispute with the Chinese government
over the censoring of search results.
The Nasdaq Composite Index (RIXF) rose 2 points to 2,364, while
the Philadelphia Semiconductor Index (SOX) and the Morgan Stanley
High Tech 35 Index (MSH) also edged into positive territory.
Much of the market was treading water in advance of the Fed
decision, due at 2:15 p.m. ET, which will focus on the state of the
U.S. economy and whether interest rates should be raised.