Energy and financial stocks dragged the Dow Jones index lower at closing as the price of oil dropped 1% to $49.31 a barrel.
The index retreated 50 points or -0.24% to 21,029.81 despite a rally in tech stocks. The S&P 500 closed -0.12% to 2,412.93 and Nasdaq 7 points or -0.11% to 6,203.19.
- Dow 21,029.8 -0.24%
- S&P 500 2,412.93 -0.12 %
- NASDAQ 6,203.19 -0.11%
- Russell 2000 1,371.19 -0.8%
- NYSE Composite 11,601.30 -0.26%
- Gold 1,265.60 -0.46%
- Oil WTI $49.65 -0.30%
- 10-year yield 2.22% -0.042
Superstar tech stocks?
Amazon's share price soared to a record high of just over $1,000 in intraday trading but closed up +0.09% to $996.70.
Its brief touch prompted market speculation about the possibility of Amazon entering the blue chip index.
Entry would require the online retailer to split its stock, something it last did 18 years ago. However, CEO, Jeff Bezos earlier this week at a shareholders meeting ruled out the possibility.
Google's Alphabet (up 0.29% to $996.17) also flirted with the $1,000 share price reching $997.62 at its highest. The barrier setting caused commentators to worry there could be a tech bubble in the making.
The so-called FANG stock (tech heavyweights of Facebook (+0.16% to $152.38), Amazon (+0.09% to $996.70), Netflix (+0.49% to $163.22) and Google (+0.29% to $996.17) are the tech stocks feeling a bit more investor love accounting as they do for around half the index.
Other market movers were Borg Warner, tech solution supplier, for combustion, hybrid and electric vehicles which increased +3.3% to $42.19 and Micron Technology up +3.2% to $30.70.