US STOCKS-Energy shares lead Wall St lower, indexes near records

martes 4 de noviembre de 2014 11:15 GYT
 

* Energy is weakest sector on the day as oil falls

* Alibaba rises after results, Priceline falls

* Dow, S&P 500 remain near record levels

* Dow flat, S&P 500 and Nasdaq down 0.2 pct

By Ryan Vlastelica

NEW YORK, Nov 4 (Reuters) - U.S. stocks fell on Tuesday, with energy shares leading the market lower as crude oil prices declined for a fourth straight day, though major indexes remained near record levels.

U.S. crude fell 2 percent to $77.24 per barrel, dropping to its lowest level in about three years after Saudi Arabia cut sales prices to the United States. This is the fourth straight session that crude has fallen, losing 6.5 percent over that period. It is down more than 30 percent from a recent closing peak.

While the broader market has rallied this year, energy has lagged. The S&P energy index fell 1.7 percent on Tuesday, and it is the only one of the ten primary sectors to be negative on the year. The Energy Select Sector SPDR ETF fell 1.9 percent to $84.43 while Chevron Corp fell 1.4 percent to $115.13.

The decline in oil "has an immediate effect on the energy sector, of course, but it also has implications for the broader market, reflecting a lack of demand," said John Kosar, director of research with Asbury Research in Chicago. "With the market at record highs, you'd like to see oil do better since demand for oil indicates the economy is humming along."   Continuación...