US close: Investors play it safe, though tech stocks fly higher
Investors in the US played it safe at the start of the week - and ahead of Friday's all-important monthly jobs report - with weaker oil prices offsetting better-than-expected readings on home prices and personal consumption and spending.
The Dow Jones Industrial Average was off 0.24% at 21,029.47 at the closing bell, with the S&P 500 slipping 0.12% to 2,412.91 - although the Nasdaq 100 managed a 0.11% rise to 5,794.63.
Oil prices retreated as investors continued to digest the outcome of last week's Opec meeting in Vienna ,and after analysts at Goldman Sachs lowered their forecast for West Texas Intermediate in 2017 from $54.80 to $52.92.
Brent crude was last down 0.95% at $51.80 per barrel, and West Texas Intermediate was off 0.83% at $49.59.
The better known large-cap technology stocks were still in the spotlight, with Amazon shares topping $1,000 in intraday trading, boosting the Nasdaq.
Amazon closed up 0.09% at $996.70.
"When in doubt, buy tech stocks," said Chris Beauchamp, chief market analyst at IG.
“That is a fair summary of this afternoon’s price action.
“Aside from the Nasdaq 100, almost all the other major markets are trading lower to a greater or lesser degree.”
Figures from the Department of Commerce showed Americans spent 0.4% more month-on-month in April, alongside an identical increase in their personal incomes.
The improvement was in line with what was expected by economists, although upwards revisions to the prior two months’ data meant the figures came in well ahead of forecasts.
Shares in offshore driller Ensco were 5% lower despite announcing plans to acquire rival Atwood Oceanics for $6.9bn.
Stock in TiVo shot 14.02% higher following news that it had won a patent case against Comcast, which added 0.46%.
Dow Jones - Risers
Verizon Communications Inc. (VZ) $46.20 1.94%
3M Co. (MMM) $202.44 0.88%
Microsoft Corp. (MSFT) $70.41 0.64%
Nike Inc. (NKE) $52.92 0.63%
Cisco Systems Inc. (CSCO) $31.68 0.57%
Procter & Gamble Co. (PG) $87.40 0.17%
Boeing Co. (BA) $186.88 0.16%
Johnson & Johnson (JNJ) $127.11 0.15%
Coca-Cola Co. (KO) $45.43 0.09%
Travelers Company Inc. (TRV) $123.73 0.06%
Dow Jones - Fallers
Goldman Sachs Group Inc. (GS) $218.35 -2.29%
JP Morgan Chase & Co. (JPM) $83.90 -1.71%
Home Depot Inc. (HD) $153.88 -0.66%
Chevron Corp. (CVX) $104.06 -0.63%
Exxon Mobil Corp. (XOM) $81.10 -0.55%
Unitedhealth Group Inc. (UNH) $176.59 -0.51%
International Business Machines Corp. (IBM) $151.73 -0.50%
American Express Co. (AXP) $77.09 -0.48%
United Technologies Corp. (UTX) $121.27 -0.48%
General Electric Co. (GE) $27.34 -0.33%
S&P 500 - Risers
First Solar Inc. (FSLR) $39.50 7.22%
United States Steel Corp. (X) $20.77 5.22%
Micron Technology Inc. (MU) $30.70 3.16%
Borg Warner Inc. (BWA) $42.18 2.93%
HP Inc (HPQ) $18.94 2.54%
Analog Devices Inc. (ADI) $84.80 2.40%
Whirlpool Corp. (WHR) $183.20 2.27%
Nvidia Corp. (NVDA) $144.87 2.14%
FLIR Systems Inc. (FLIR) $37.77 1.94%
Verizon Communications Inc. (VZ) $46.20 1.94%
S&P 500 - Fallers
Diamond Offshore Drilling Inc. (DO) $11.57 -4.77%
Southwestern Energy Co. (SWN) $6.35 -3.93%
Devon Energy Corp. (DVN) $34.49 -3.71%
Chesapeake Energy Corp. (CHK) $5.10 -3.59%
ONEOK Inc. (OKE) $49.85 -3.56%
Delta Airlines Inc. (DAL) $49.06 -3.43%
Williams Companies Inc. (WMB) $28.69 -3.37%
Range Resources Corp. (RRC) $23.40 -3.31%
Transocean Ltd. (RIG) $9.26 -3.14%
Hess Corp. (HES) $46.67 -3.05%
Nasdaq 100 - Risers
Micron Technology Inc. (MU) $30.70 3.16%
Tesla Inc (TSLA) $335.10 3.06%
Analog Devices Inc. (ADI) $84.80 2.40%
Nvidia Corp. (NVDA) $144.87 2.14%
Seagate Technology Plc (STX) $43.24 1.67%
J.B. Hunt Transport Services Inc. (JBHT) $85.94 1.66%
Symantec Corp. (SYMC) $30.06 1.52%
Western Digital Corp. (WDC) $91.29 1.42%
Discovery Communications Inc. Class A (DISCA) $26.20 1.28%
Lam Research Corp. (LRCX) $156.87 1.13%
Nasdaq 100 - Fallers
Incyte Corp. (INCY) $130.49 -2.89%
Shire Plc Ads (SHPG) $172.92 -2.40%
Biogen Inc (BIIB) $246.54 -1.70%
American Airlines Group (AAL) $47.96 -1.60%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $50.07 -1.51%
Regeneron Pharmaceuticals Inc. (REGN) $448.67 -1.43%
Celgene Corp. (CELG) $115.13 -1.41%
Walgreens Boots Alliance, Inc. (WBA) $80.16 -1.34%
NetEase Inc. Ads (NTES) $288.46 -1.33%
Illumina Inc. (ILMN) $173.58 -1.32%