ASX to slip, Wall Street modestly lower

News Snapshot:

On Wall Street, shares were mixed. Energy paced six of the 11 S & P 500 industry sectors lower; utilities paced the advancers. Range bound markets may be here for several months, AGF chief investment officer Kevin McCreadie said. “At best, then, it seems like markets are set to tread water for a little while longer. “In doing so, it’s also likely that investors continue crowding into a small number of “quality” technology stocks that are thought to provide greater downside protection in this type of environment.” Adam Turnquist, chief technical strategist at LPL Financial, said the S & P...