US STOCKS-Dow, S&P 500 end lower following drop in energy shares

lunes 8 de septiembre de 2014 16:36 GYT

By Caroline Valetkevitch

NEW YORK, Sept 8 (Reuters) - The Dow and S&P 500 ended lower on Monday after a drop in energy shares, while the Nasdaq edged higher with Yahoo.

The S&P 500's decline followed a record close on Friday.

Energy led the day's decline, with the S&P energy index off 1.6 percent. Shares of Exxon Mobil fell 1.5 percent and Schlumberger's were down 2.1 percent, among the biggest drags on the S&P 500.

A stronger dollar pushed dollar-denominated commodities lower. The U.S. dollar rose to its highest in over a year, while U.S. crude fell 0.7 percent.

"What you have as much as anything, the market is just consolidating some recent gains," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

"The dollar is rallying and, as a consequence, you see the commodity complex getting clobbered. Energy is taking a blow, so that's making a dent."

Helping the Nasdaq, shares of Yahoo jumped 5.6 percent to $41.81, their highest close since Jan. 11, 2006, in anticipation of Alibaba Group Holding Ltd's IPO-BABA.N initial public offering. Yahoo has a 22.4 percent stake in Alibaba.

The Dow Jones industrial average fell 25.94 points or 0.15 percent, to 17,111.42, the S&P 500 lost 6.18 points or 0.31 percent, to 2,001.53 and the Nasdaq Composite added 9.39 points or 0.2 percent, to 4,592.29.   Continuación...