* Wal-Mart shares rally after new CEO is named
* Oil falls after Iran deal; energy shares slip
* Facebook and Yelp shares drop
* Dow up 0.1 pct; S&P 500 off 0.1 pct; Nasdaq up 0.1 pct
By Luke Swiderski
NEW YORK, Nov 25 The Dow industrials eked out a
slim gain on Monday to end at another record high, after the
Nasdaq topped 4,000 for the first time in 13 years and then
slipped to close below that level.
Wal-Mart Stores Inc shares rose 0.8 percent to close
at $80.43, off an all-time intraday high of $80.57 after the
world's largest retailer said it has chosen its next chief
executive. The stock was among the Dow's best performers.
Energy stocks slipped following a deal to reduce sanctions
on oil producer Iran. The S&P energy sector index fell
Social media shares dropped in volatile trading.
Volume is expected to remain low this 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. U.S. crude oil
fell 75 cents, or about 0.79 percent, to settle at $94.09 a
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 slid 3.1 percent to close at $44.82. Yelp shares
fell 6.7 percent to $58.20. Twitter shares lost 4.7
percent to end at $39.06.
The Dow Jones industrial average rose 7.77 points or
0.05 percent, to end at 16,072.54, another nominal record
closing high. Earlier, the Dow hit yet another all-time intraday
high at 16,109.63. But the S&P 500 dipped 2.28 points or
0.13 percent, to finish at 1,802.48.
The Nasdaq Composite Index added 2.924 points or
0.07 percent, to close 3,994.573. Earlier, the Nasdaq touched an
intraday high at 4,007.093 - its first moved above 4,000 in 13
years. But the Nasdaq pulled back in late trading.
Healthcare and financial stocks were the day's winners, with
the S&P healthcare sector index rising 0.4 percent and
the S&P financial sector index adding 0.1 percent.
In contrast, Boeing shares fell 2.2 percent to $133
after the company advised airlines on Friday about the risk of
engine icing problems on its new 747-8 and 787 Dreamliner
planes. Shares of General Electric, which makes the
engines, dropped 1.3 percent to $26.73.
The U.S. stock market could still go higher, some analysts
said, even though the S&P 500 is up 26.4 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.