US shares fairly flat

US shares traded fairly flat early Tuesday, appearing to continue taking a breather that started last Friday after a solid one-month run. But biotech shares got a boost from Vertex Pharmaceuticals (+40.6 per cent) after it reported promising results in tests of two drugs for treating cystic fibrosis. Thirty minutes into trade, the Dow Jones Industrial Average was down 13.52 points (0.08 per cent) to 16,923.74. The broad-based S&P 500 slipped 1.32 (0.07 per cent) to 1,961.29, while the tech-rich Nasdaq Composite gained 5.47 (0.13 per cent) to 4,374.14. Facebook led the major companies with a 1.6pc gain, while Philip Morris slipped 1.6pc. On the Dow, UnitedHealth was the biggest gainer, up 0.5pc. Blackberry eased 2.2pc after three days of gains that came on an improvement in the struggling smartphone maker's finances. Bond prices rose. The yield on the 10-year US Treasury fell to 2.60pc from 2.62pc, while the 30-year dropped to 3.42pc from 3.45pc. Bond prices and yields move inversely, according to AFP.