Nasdaq notches new all-time high; S&P 500, Dow retreat

US Market Indexes Mostly Lower Monday With Losses From Energy

The Dow slid 31.85 (-0.16 percent) to finish at 19,855.53.

MARKETS OVERSEAS: In Europe, Germany's DAX was up 0.1 percent, while the CAC40 of France was 0.1 percent lower.

S&P 500 companies are set to post their strongest quarterly growth in three years, with earnings estimated to have risen 5.8 percent in the fourth quarter, mainly driven by financials, according to Thomson Reuters I/B/E/S.

The Nasdaq is up 148.70 points, or 2.8 percent.

The Dow also flirted with the 20,000 level last Friday but was unable to break through the key psychological level.

Major U.S. stock indexes closed mostly lower Monday, weighed down by a slide in oil and gas companies as energy futures prices fell.

Wall Street was mixed In 1.20pm trading in NY, the Dow Jones Industrial Average slipped 0.2 percent, while, in 1.05pm trading, the Standard & Poor's 500 Index inched 0.1 percent lower.

The S&P 500 benchmark has risen more than 6 percent since the November 8 election of Donald Trump, who has pledged tax cuts, lighter regulation and fiscal stimulus, but investors are now waiting to see if he can deliver on those promises. The Nasdaq hit a high of 5,538.295.

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The tech sector was the top gainer. The average gain for all 42 years was 13.6 percent.

"As we move into the next couple of weeks, the focus will move towards the micro and to specific company earnings and expectation going forward", Jones said.

The first peek into how companies fared will be provided later this week by big US banks.

HEALTHIER OUTLOOK: Zimmer Biomet added 4.9 percent after the medical device maker projected better-than-expected fourth-quarter sales.

The healthcare sector gained 0.34 percent, boosted by a string of multi-billion dollar deals.

Ariad Pharma surged almost 73 percent on a $5.20 billion buyout deal with Japan's Takeda. Both deal total more than $2 billion for Valeant. Dow component UnitedHealth dipped 0.6 percent.

BAH HUMBUG: Ascena Retail Group slumped 10.1 percent after the company slashed its profit forecast, citing holiday season sales, which fell for most of its store chains, including Ann Taylor, Lane Bryant and Dressbarn.

However, the UK's FTSE 100 Index rose 0.4 percent as exporters benefitted from a weakening pound, declining more than 1 percent against the greenback, amid concern about the UK's Brexit strategy following comments by Prime Minister Theresa May. The stock rose $1.15 to $16.50.

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