US STOCKS-S&P 500, Nasdaq slip; oil prices drag down energy

martes 4 de noviembre de 2014 18:00 GYT

* Energy is weakest sector on the day as oil falls

* Alibaba rises after results, Priceline falls

* Dow up 0.1 pct, S&P down 0.3 pct, Nasdaq down 0.3 pct (Updates to close)

By Caroline Valetkevitch

NEW YORK, Nov 4 (Reuters) - The S&P 500 and Nasdaq ended lower on Tuesday as another big drop in oil prices dragged down energy shares and Priceline's earnings forecast disappointed.

The S&P 500 energy sector fell 1.9 percent, extending the group's recent drop, the Energy Select Sector SPDR ETF dropped 2.1 percent, and Chevron Corp eased 1.2 percent to $115.37.

The Dow ended slightly higher, although was unable to break above its record close from Friday. While the market has bounced back strongly from its recent selloff, the energy sector remains under pressure from plunging oil prices.

U.S. crude oil hit its lowest in about three years after Saudi Arabia cut sales prices to the United States. Crude is down more than 30 percent from a recent closing peak.

Adding to worries about global demand, the European Commission said the euro zone will need another year to reach even modest economic growth. A Reuters report said central bankers in the euro zone plan to challenge European Central Bank President Mario Draghi's leadership style.   Continuación...