(MENAFN- ProactiveInvestors) U.S. stocks ended mostly steady in a holiday-shortened session as energy producers retreated on OPEC’s decision to maintain its production levels overshadowing a rally among retailers.
The S&P 500 (INDEXSP:.INX) fell 0.3 percent to 2067.56 at 1 p.m. in New York was little changed at 11:12 a.m. in New York as exchanges closed early after the Thanksgiving holiday yesterday. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) was flat at 17828.24 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) gained less than 0.1 percent to 4791.63.
Energy stocks plummeted after OPEC’s decision to keep its output target unchanged. () the largest U.S. oil and gas firm fell 4.2 percent to $90.54.
() the second-largest U.S. oil and gas producer lost 5.4 percent to $108.87. () the world’s biggest provider of oilfield services tumbled 7.4 percent to $85.95. Halliburton () the second-largest plunged 11 percent to $42.20. () which Halliburton has agreed to buy sank 8.9 percent to $57.00.
Transportation companies got a lift from the prospect of lower energy prices. American Airlines (NASDAQ:AAL) the world’s largest carrier jumped 8.3 percent to $48.71. () added 5.5 percent to $46.67. () rallied 7 percent to $42.01.
Retailers climbed as shoppers hunted for holiday deals. Wal-Mart Stores () the largest U.S. retailer gained 3 percent to $87.54 after reporting that Thanksgiving Day delivered the second-highest online sales day ever topped only by Cyber Monday last year. J.C. Penney () rose 3.4 percent to $8.01. Macy’s () added 2.2 percent to $64.91.
() advanced 2.8 percent to $109.92 as shoppers go to stores and online for the Black Friday weekend.
West Texas Intermediate crude oil fell 8.7 percent to below $68 from its Nov. 26 close the biggest loss in more than three years as the Organization of Petroleum Exporting Countries yesterday agreed not to reduce its output ceiling even after oil crumbled into a bear market this year.
In Europe stocks were little changed even as a slump in energy companies offset a gain in travel shares. The Stoxx Europe 600 Index slipped 0.1 percent to 347.25 at the close paring losses of as much as 0.6 percent in the final half hour of trading. A gauge of oil and gas companies fell 3.5 percent capping its worst week since August 2011
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