US STOCKS-Wall St flat after last week's big gain; energy weighs

lunes 27 de octubre de 2014 16:38 GYT
 

* Dow up 0.1 pct, S&P down 0.2 pct, Nasdaq up 0.1 pct (Updates to close)

By Caroline Valetkevitch

NEW YORK Oct 27 (Reuters) - U.S. stocks ended near flat on Monday, pausing after the S&P 500's biggest weekly gain since January 2013, while energy shares fell with another decline in oil prices.

Among the day's biggest positives, shares of Gilead Sciences rose 1.7 percent to $112.59, a day ahead of its scheduled earnings release. Micron Technology shares jumped 4 percent to $32.30 and was the largest percentage gainer on both the S&P 500 and Nasdaq 100 after it announced a $1 billion stock repurchase.

But energy shares were by far the day's biggest drag, with the S&P 500 energy index falling 2 percent. U.S. crude oil briefly traded below $80 a barrel after Goldman Sachs slashed its crude price forecasts, citing abundant supply and lackluster demand.

The S&P 500 ended the day down slightly after closing out its best week since early January 2013, a sharp recovery from the market's recent selloff. The index is now up 5.3 percent from its Oct. 15 low.

"After almost a 10 percent correction on the S&P, the bulls showed up and sent the prices right back up. Now... we're on track for closing in the upper half of the range for the month, which is a bullish sign," said Adam Sarhan, chief executive of Sarhan Capital in New York.

Accommodative central bank policies globally should keep "an underlying bid for stocks," he said.

The Dow Jones industrial average rose 12.53 points, or 0.07 percent, to 16,817.94, the S&P 500 lost 2.95 points, or 0.15 percent, to 1,961.63 and the Nasdaq Composite added 2.22 points, or 0.05 percent, to 4,485.93.   Continuación...