While Nasdaq gained for the seventh session straight on Thursday in commensurate with jump in Priceline share, but the Dow and S&P eased out due to the decline in energy shares, and a bleak outlook from Wal-Mart.
The uncertainty looming large over a debt deal with Greece caused investors to be cautious. Germany refused extension of the euro zone loan agreement with Greece on the plea that the proposal fell short of requirements fixed by the euro-zone partners of the country. The boost in Nasdaq having the longest winning streak during the year also propelled Priceline Group shares that rallied from 8.5% to $1218.05 as per its quarterly results. The stock proved to be largest percentage gainer among the stocks of S&P 500.
On the other hand, the Dow declined due to the drop in shares of Wal-Mart. Also, the cutting of its sales outlook owing to strong dollar as its reason contributed to its decline. Its shares declined 3.2% to $83.52. Wal-Mart also decided to increase entry-level wages to $9 per hour. The energy index of S&P decreased by 0.8%, and shares of Exxon Mobil fell by1.7% to $89.44 due to the sliding oil prices for the second day. With the decline in energy prices, profits of oil companies got eroded, and many of them decided to cut spending plans for 2015. However, the fourth quarter earnings overall of S&P 500 have been unexpectedly better, and it helped sentiments. The industrial average of Dow Jones declined by 44.08 points, or. 0.24%. S&P 500 suffered a loss of 2.23 points, or 0.11%, while Nasdaq composite gained 18.34 points, or 0.37%.