US STOCKS ended near flat yesterday, 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 per cent to $112.59, a day ahead of its scheduled earnings release. Micron Technology shares jumped four per cent to $32.30 and was the largest percentage gainer on both the S&P 500 and Nasdaq 100 after it announced a $1bn stock repurchase.
But energy shares were by far the day's biggest drag, with the S&P 500 energy index falling 2 per cent. US crude oil briefly traded below $80 a barrel after Goldman Sachs slashed its crude price forecasts, citing abundant supply and lacklustre 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 per cent from its 15 October low.
The Dow Jones industrial average rose 12.53 points, or 0.07 per cent, to 16,817.94, the S&P 500 lost 2.95 points, or 0.15 per cent, to 1,961.63 and the Nasdaq Composite added 2.22 points, or 0.05 per cent, to 4,485.93.
After the bell, shares of Twitter dropped sharply after it reported quarterly revenue that surpassed expectations but forecast fourth-quarter sales that may miss targets. On the S&P 500, the largest decliner was Nabors Industries, down 6.7 per cent. On the Nasdaq, the largest decliner was Tesla Motors, down 5.8 per cent.