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Stocks mostly lower as energy companies decline, oil price slips

Trader Robert Charmak, left, works on the floor

Trader Robert Charmak, left, works on the floor of the NYSE, Nov. 17, 2017.  Credit: AP / Richard Drew

A sluggish day of trading on Wall Street finished Monday with stocks edging mostly lower as investors came back from the Thanksgiving holiday.

Energy stocks declined the most following a slide in crude oil prices. Materials companies also declined, partly offsetting gains among utilities and industrial stocks.

Retailers posted solid gains on reports the holiday shopping season is off to a strong start.

Investors also cheered some corporate deals and looked ahead to several economic reports and potential market-moving news out of Washington this week.

The Standard & Poor’s 500 index slipped 1 point to 2,601.42. The Dow Jones industrial average edged up 22.79 points, or 0.1 percent, to 23,580.78. The Nasdaq composite fell 0.2 percent, to 6,878.52. The Russell 2000 index of smaller-company stocks lost 5.85 points, or 0.4 percent, to 1,513.31.

Losses among energy stocks weighed on the market as oil prices declined.

Marathon Oil lost 65 cents, or 4.3 percent, to $14.48, while Newfield Exploration gave up $1.05, or 3.4 percent, to $29.69.

Benchmark U.S. crude fell 84 cents, or 1.4 percent, to settle at $58.11 per barrel on the New York Mercantile Exchange. Brent crude declined 2 cents to close at $63.84 in London. — AP

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