US close: Markets mixed as Fed meeting begins

Markets in New York ended mixed on Tuesday, with energy leading as oil prices climbed, and investors waited ahead of a number of corporate results and major central bank meetings.

The Dow Jones Industrial Average finished up 0.07% at 17,990.32, the S&P 500 was up 0.19% at 2,091.70, and the Nasdaq Composite finished 0.15% lower at 4,888.31.

It was the first four-day losing streak for the Nasdaq since 11 January.

Healthcare and information technology were the two big losses on the S&P 500, with tech closing 0.4% lower on the day, joining healthcare and financials as the negative sectors year-to-date.

"Today the standout sector is energy. People are beginning to look back to single stocks in this very beaten-up space. With crude prices stabilizing, people are reviewing equity stories and individual companies," said ITG head of sales training Brian Fenske.

On the oil front, crude prices ended the session in the black. Brent crude was last up 4.28% at $46.47 per barrel, and West Texas Intermediate ahead by 4.74% at $44.76.

The Federal Open Markets Committee began its two day meeting on Tuesday, with a statement on monetary policy expected late on Wednesday. No rate change is expected, though the committee’s rhetoric will be watched closely for an indication of when rates will go up.

Both the Bank of Japan and the Reserve Bank of New Zealand are due to release monetary policy statements on Thursday.

In economic news, durable goods orders in the US rose less than expected in March, at 0.8%, after a revised 3.1% decline in February.

3M was down 1.3% after beating both top and bottom line earnings expectations with increased profit margins, though net sales were down 2.2% on the same period last year. The manufacturing conglomerate maintained its guidance for the current year.

DuPont reported earnings late on Monday that also beat forecasts, and raised its expectations for the current year, citing the greenback’s weakness against a number of other currencies. It said on Tuesday it expected the regulatory review of its proposed merger with Dow Chemical to be complete by late June, before gaining 2.4% by close.

Procter & Gamble also beat earnings expectations but missed on revenue - a seventh straight quarter of disappointment on that measure. It said it now expects a decline of 3% to 6% in earnings per share for the year, slightly more upbeat than the 3% to 8% previously forecast. Its shares closed down 2.3%.

ExxonMobil finished 0.3% higher, even after the firm’s credit rating was cut by Standard & Poor’s to AA+ from AAA, with the agency citing low oil prices for the decision.

Apple, Chipotle and Twitter were all due to report after the closing bell.

S&P 500 - Risers
Micron Technology Inc. (MU) $11.51 +9.10%
Pioneer Natural Resources Co. (PXD) $165.36 +7.73%
Southwestern Energy Co. (SWN) $12.96 +7.11%
Ryder System Inc. (R) $69.45 +6.44%
Centene Corp. (CNC) $66.71 +6.12%
PACCAR Inc. (PCAR) $58.93 +5.14%
Alcoa Inc. (AA) $10.66 +4.92%
Cimarex Energy Co (XEC) $111.26 +4.77%
Carmax Inc. (KMX) $55.47 +4.68%
Marathon Oil Corp. (MRO) $14.44 +4.41%

S&P 500 - Fallers
Corning Inc. (GLW) $19.22 -8.35%
FLIR Systems Inc. (FLIR) $31.31 -7.69%
Wyndham Worldwide Corp. (WYN) $70.39 -7.47%
Whirlpool Corp. (WHR) $179.43 -3.55%
Waters Corp. (WAT) $133.34 -3.07%
Celgene Corp. (CELG) $107.55 -2.73%
Illumina Inc. (ILMN) $139.21 -2.70%
Alexion Pharmaceuticals Inc. (ALXN) $154.01 -2.54%
Procter & Gamble Co. (PG) $79.55 -2.28%
Alphabet Inc. Class A (GOOGL) $725.37 -2.27%

Dow Jones I.A - Risers
E.I. du Pont de Nemours and Co. (DD) $67.55 +2.40%
Boeing Co. (BA) $133.24 +1.90%
Caterpillar Inc. (CAT) $77.65 +1.12%
Cisco Systems Inc. (CSCO) $28.45 +0.78%
Chevron Corp. (CVX) $102.29 +0.77%
American Express Co. (AXP) $66.20 +0.76%
General Electric Co. (GE) $30.90 +0.72%
Nike Inc. (NKE) $59.54 +0.56%
JP Morgan Chase & Co. (JPM) $63.93 +0.52%
Visa Inc. (V) $78.53 +0.50%

Dow Jones I.A - Fallers
Procter & Gamble Co. (PG) $79.55 -2.28%
3M Co. (MMM) $166.18 -1.31%
Microsoft Corp. (MSFT) $51.44 -1.29%
Apple Inc. (AAPL) $104.35 -0.69%
Verizon Communications Inc. (VZ) $50.44 -0.63%
Johnson & Johnson (JNJ) $112.91 -0.53%
Pfizer Inc. (PFE) $33.05 -0.48%
Coca-Cola Co. (KO) $44.53 -0.40%
United Technologies Corp. (UTX) $104.80 -0.38%
Travelers Company Inc. (TRV) $109.97 -0.34%

Nasdaq 100 - Risers
Micron Technology Inc. (MU) $11.51 +9.10%
PACCAR Inc. (PCAR) $58.93 +5.14%
Nxp Semiconductors Nv (NXPI) $86.69 +4.02%
Akamai Technologies Inc. (AKAM) $52.66 +3.07%
Liberty Global plc Series A (LBTYA) $39.05 +3.03%
Liberty Global plc Series C (LBTYK) $38.17 +3.00%
Western Digital Corp. (WDC) $44.54 +2.77%
Seagate Technology Plc (STX) $27.00 +2.70%
Xilinx Inc. (XLNX) $46.95 +2.53%
Bed Bath & Beyond Inc. (BBBY) $49.32 +2.30%

Nasdaq 100 - Fallers
JD.com, Inc. (JD) $25.07 -8.60%
T-Mobile Us, Inc. (TMUS) $39.33 -4.49%
Incyte Corp. (INCY) $74.43 -2.77%
Celgene Corp. (CELG) $107.55 -2.73%
Illumina Inc. (ILMN) $139.21 -2.70%
Alexion Pharmaceuticals Inc. (ALXN) $154.01 -2.54%
Alphabet Inc. Class A (GOOGL) $725.37 -2.27%
Alphabet Inc. Class C (GOOG) $708.14 -2.08%
Endo International Plc (ENDP) $29.47 -1.90%
Vertex Pharmaceuticals Inc. (VRTX) $84.14 -1.77%