Wall Street ends choppy session mixed

Trading action on Wall Street remains subdued.
Energy shares weigh on S&P 500.
Healthcare and technology offset losses.

Eren Sengezer FXStreet

After starting the day with small gains, major equity indexes in the United States struggled to find direction amid the thing trading volume ahead of the New Year's holiday.

Following yesterday's sharp upsurge, crude oil prices struggled to extend their gains and the barrel of West Texas Intermediate settled with a 0.55% loss on the day at $59.64, weighing on the energy shares and dragging the S&P 500 Energy Sector (SPNY) 0.32% lower.

On the other hand, the S&P 500 Information Technology Sector (SPLRCT) and the S&P 500 Health Care Sector (SPXHC) gained 0.16% and 0.2% respectively, limiting the negative impact of the SPNY on the major indices.

Commenting on today's market action, “we don’t see the behaviors typical of theme changes so we think this messiness in December is just temporary; the leadership of the year will resume and continue into 2018,” Craig Callahan, President of ICON Funds in Denver, told Reuters.

At the end of the session, the Dow Jones Industrial Average was up 23.92 points, or 0.1%, at 24,770.13, the S&P 500 was down 1 point, or 0.04%, at 2,686.25 and the Nasdaq Composite was virtually unchanged at 6,937.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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