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Stocks mostly slip away from their latest record highs

Trader Steven Kaplan, right, on the floor of

Trader Steven Kaplan, right, on the floor of the NYSE, Nov. 16, 2017.  Credit: AP / Richard Drew

U.S. stocks mostly slipped away from their latest record highs Wednesday as the two former halves of Hewlett-Packard both tumbled, while falling interest rates helped phone companies, but hurt banks.

The price of oil jumped on reports OPEC and a group of other countries might extend the cuts in production they made at the start of this year. That took energy companies higher.

Hewlett Packard Enterprise sank after it said CEO Meg Whitman will retire, while printer and PC maker HP lost ground after its latest quarterly report.

The Standard & Poor’s 500 index dipped 1.95 points, or 0.1 percent, to 2,597.08. The Dow Jones industrial average slid 64.65 points, or 0.3 percent, to 23,526.18. The Nasdaq composite rose 4.88 points, or 0.1 percent, to a record 6,867.36. The Russell 2000 index of smaller-company stocks lost 2.13 points, or 0.1 percent, to 1,516.76.

All four indexes closed at record highs Tuesday, and on Wednesday most of the companies on the New York Stock Exchange finished higher.

U.S. markets will be closed Thursday for the Thanksgiving holiday. They will reopen Friday, but will close at 1 p.m.

U.S. crude rose $1.19, or 2.1 percent, to $58.02 a barrel in New York. Brent crude, used to price international oils, gained 75 cents, or 1.2 percent, to $63.32 a barrel in London. Both oil benchmarks are at two-year highs.

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