* Oil falls after Iran deal, energy shares pressured
* Facebook, Yelp shares down
* Dow up 0.02 pct; S&P off 0.2 pct; Nasdaq up 0.04 pct
By Luke Swiderski
NEW YORK, Nov 25 U.S. stocks retreated to almost
unchanged in light trading late Monday afternoon following the
Nasdaq Composite's climb above 4,000 for the first time in 13
Wal-Mart Stores Inc rose 0.6 percent to $80.31. At
one point, the stock touched an all-time high of $80.57 after
the company said it chose its next chief executive.
The major U.S. stock indexes were overall little changed in
what is expected to be a quiet week ahead of the U.S.
Thanksgiving holiday on Thursday.
"Retailers are taking focus this week. Black Friday is
coming up, so there will be obviously some positioning ahead,"
said Dennis Dick, proprietary trader at Bright Trading LLC in
Las Vegas, referring to the hectic day just after Thanksgiving
that's regarded as the start of the holiday shopping season.
The agreement between world powers and Iran to partially
curb Iran's nuclear program was seen as bolstering positive
sentiment, even though it may not increase Iran's oil
exports. Light sweet U.S. crude oil
fell almost 1 percent to $94.09 a barrel.
The S&P energy index fell 0.9 percent.
Despite the pressure on the energy sector, the deal with
Iran was viewed as having positive benefits for the market at
"Less tension in the Middle East is always a positive, and
any drop in gas prices will essentially act as a tax break for
consumers going into the holiday shopping season," said Jeff
Duncan, chief executive of Duncan Financial Management in St.
Louis. "This is a real benefit for the economy."
Notable social media stocks fell, with Facebook breaking
through a technical support level at $45.80. Facebook shares
were down 3.2 percent at $44.73. Yelp shares fell 6.9
percent to $58.07. Twitter shares lost 4.5 percent to
The Dow Jones industrial average rose 3.11 points or
0.02 percent, to 16,067.99. The S&P 500 slipped 2.73
points or 0.15 percent, to 1,802.03. The Nasdaq Composite
added 1.69 points or 0.04 percent, to 3,993.41, after
earlier touching an intraday high at 4,007.09.
The market could still go higher, some analysts said, even
though the S&P 500 is up 26.5 percent for the year and the Dow
has risen seven weeks in a row.
"Not surprisingly, many investors are asking whether this
sets us up for some type of pullback. In our view, the answer is
a resounding 'No.' While these results are excellent, especially
in the context of weak economic and earnings growth, they are
hardly out of the ordinary," said Jonathan Golub, chief U.S.
market strategist at RBC Capital Markets in New York.