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THE REAL MOST ACTIVE Dow, S&P 500 Close Lower As Oil Prices Slide.(MAKING MONEY)
Byline: NANCY GONDO
NYSE stocks jumped to an early gain Monday but ended their first day of trading in 2005 on a down note. The Dow fell 0.5% and the S&P 500 0.8% as trading bounced back to average levels. Small caps took the biggest hit, as the S&P 600 sank 1.8%.
The Commerce Department said construction spending fell 0.4% in November vs. views for a 0.4% gain.
Oil and gas groups suffered some of the biggest losses among IBD's 197 industry groups, as crude oil prices slid $1.32 to $42.13 a barrel. Mild winter weather in the Northeast contributed to the decline.
Retail propane marketer Energy Transfer Partners fell 1.84 to 56.48 on triple normal turnover, ending a nine-session win streak. Berry Petroleum lost 2.27 to 45.43 on twice usual trade. The oil and gas explorer fell to within a point of its 50-day average during the session. It's remained above that level for more than four months.
Other stocks in the Oil & Gas-U.S. Exploration & Production group that closed lower included Burlington Resources, down 2.63 to 40.87, Southwestern Energy 3.59 to 47.10 and XTO Energy 2.38 to 33, all on above-average turnover.
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