US STOCKS-Skidding oil prices pull down S&P from record high

lunes 1 de agosto de 2016 13:27 GYT

* U.S. crude falls below $40/barrel for first time since mid-April

* SolarCity down after Tesla says to buy the company

* Exxon, Chevron biggest drags on S&P and Dow

* Dow down 0.27 pct, S&P down 0.21 pct, Nasdaq up 0.29 pct (Updates to early afternoon)

By Tanya Agrawal

Aug 1 (Reuters) - The S&P 500 and the Dow fell in early afternoon trading on Monday, dragged down by energy stocks as oil prices fell, while the Nasdaq was led higher by Apple and Alphabet.

The S&P, which had earlier hit a fresh intraday all-time high, has been on a record-setting rally - helped by largely positive data and strong earnings. The index touched an intraday high for the seventh time in July on Friday.

The S&P gained 3.6 percent in July - its best month since March - lifting its valuation well above historical levels.

Oil prices fell about 3.6 percent due to an increase in OPEC production and U.S. oil rig additions. U.S. crude fell below $40/barrel for the first time since mid-April.   Continuación...