U.S. stocks ended near flat on Monday, pausing after the S&P 500's biggest weekly gain since January 2013, while energy shares fell with another decline in oil prices.
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Among the day's biggest positives, shares of Gilead Sciences <GILD.O> rose 1.7 percent to $112.59, a day ahead of its scheduled earnings release. Micron Technology <MU.O> shares jumped 4 percent to $32.30 and was the largest percentage gainer on both the S&P 500 and Nasdaq 100 after it announced a $1 billion stock repurchase.
But energy shares were by far the day's biggest drag, with the S&P 500 energy index <.SPNY> falling 2 percent. U.S. crude oil <CLc1> briefly traded below $80 a barrel after Goldman Sachs slashed its crude price forecasts, citing abundant supply and lackluster 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 percent from its Oct. 15 low.
"After almost a 10 percent correction on the S&P, the bulls showed up and sent the prices right back up. Now... we're on track for closing in the upper half of the range for the month, which is a bullish sign," said Adam Sarhan, chief executive of Sarhan Capital in New York.
Accommodative central bank policies globally should keep "an underlying bid for stocks," he said.
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The Dow Jones industrial average <.DJI> rose 12.53 points, or 0.07 percent, to 16,817.94, the S&P 500 <.SPX> lost 2.95 points, or 0.15 percent, to 1,961.63 and the Nasdaq Composite <.IXIC> added 2.22 points, or 0.05 percent, to 4,485.93.
The majority of companies are beating earnings expectations. With results in from 213 of the S&P 500 companies, 71.4 percent beat analysts' forecasts, which would be highest percentage since the third quarter of 2011, Thomson Reuters data showed.
U.S.-traded shares of Brazilian companies tumbled after President Dilma Rousseff won reelection, defeating market favorite Aecio Neves by a slim margin.
Petrobras ADRs <PBR.N> slumped 13.7 percent to $11.16 and Vale <VALE.N> lost 5.2 percent to $10.58. A Brazilian exchange-traded fund <EWZ.P> dropped 5.4 percent.
After the bell, shares of Twitter <TWTR.N> dropped 9.6 percent to $43.88 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 <NBR.N>, down 6.7 percent to $17.48. On the Nasdaq, the largest decliner was Tesla Motors <TSLA.O>, down 5.8 percent at $221.67.
Declining NYSE issues outnumbered advancers 1,737 to 1,308, for a 1.33-to-1 ratio on the downside; on the Nasdaq, 1,424 issues fell and 1,235 advanced for a 1.15-to-1 ratio.
The benchmark S&P 500 index posted 53 new 52-week highs and one new low; the Nasdaq Composite recorded 45 new highs and 62 new lows.
About 6.1 billion shares changed hands on U.S. exchanges, below the 8 billion average this month, according to data from BATS Global Markets.
(By Caroline Valetkevitch; Additional reporting by Rodrigo Campos; Editing by Bernadette Baum, Meredith Mazzilli and Nick Zieminski)