US STOCKS-Energy weighs on Wall St but Costco shines

jueves 7 de julio de 2016 16:24 GYT

* June ADP employment number beats expectations

* Oil futures drop sharply; Exxon, Chevron fall

* Dow down 0.13 pct, S&P down 0.09 pct, Nasdaq up 0.36 pct (Updates to close)

By Marcus E. Howard

July 7 (Reuters) - The S&P 500 and Dow industrials slipped on Thursday, weighed by energy shares, but gains in Costco and tech shares lifted the Nasdaq Composite.

The energy sector of the S&P was dragged lower by Exxon and Chevron as oil futures prices fell nearly 5 percent after crude stockpiles fell slightly less than forecast.

High-yielding sectors also pulled the S&P lower even as yields on long-term U.S. government debt remained near record lows.

"The utilities and the telecoms are also weak sectors. That's really selling into the strengths of higher dividend stocks," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

"There's clearly some profit taking occurring there for no particular reason."   Continuación...