The S&P 500 and the Nasdaq Composite halted six-day stretches of gains as financial and consumer discretionary stocks gave back ground while a surge in oil prices kept the Dow Jones Industrial Average in the green as it closed at another record high.
Financials, which had been one of the biggest beneficiaries of the post-election rally over the past month, fell
0.9% in the largest decline among the five of 11 sectors on the S&P 500 that fell. Consumer discretionary was down 0.8%. Telecommunication services and utilities were 1.1% higher each in the strongest advances.
An agreement by non-OPEC producers to curb oil output sent benchmark crude rallying, with US futures ending off the day's highs but still 1.6% stronger at $52.32 a barrel. Exxon Mobil ( XOM ) and Chevron ( CVX ) were among 19 of the 30 blue chips on the Dow that posted gains, while health care companies accelerated the most. Johnson & Johnson ( JNJ ) increased 2.8% and Pfizer ( PFE ) added 2.3%
Investors were looking ahead to the Tuesday start of the Federal Open Market Committee's monetary policy meeting. While it's widely expected that interest rates will be raised, analysts are looking to clues from the FOMC about how many more hikes there might be later in 2017.
Tuesday's economic agenda has the November National Federation of Independent Business optimism index due at 6 a.m. ET with November import and export prices at 8:30 a.m.
Here's where the markets stood by the close:
Dow Jones Industrial Average was up 39.58 points (+0.2%)
S&P 500 was down 2.57 points (-0.11%)
Nasdaq Composite was down 31.96 points (-0.59%)
FTSE 100 was down 0.92%
Nikkei 225 was up 0.84%
Hang Seng Index was down 1.44%
Shanghai China Composite Index was down 2.47%
(+) AKAO (+148.19%) Reports new positive data on plazomycin for treating bacterial infections
(+) NTT (+4.44%) Authorizes repurchase of shares for up to JPY150 billion ($1.3 billion)
(+) E (+3.6%) Selling 30% stake in Egyptian offshore gas field Zohr to Russia's Rosneft for $1.575 billion
(+) CMG (+3.37%) Names founder Steve Ells as sole CEO following resignation of Monty Moran from co-CEO role
(-) OPHT (-86.36%) Phase 1/2 trial of fovista failed to meet primary endpoint
(-) SYRX (-34.88%) Prices $2 million offering of stock, warrants
(-) ALXN (-12.86%) Names interim CEO and CFO after resignations
(-) WFC (-2.38%) Appointed Chairman Stephen Sanger and Vice Chair Elizabeth Duke to a panel that will investigate into the company's recent sales scandal
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