NEW YORK (AA) – The stock market closed mixed Monday with a decline in oil prices, but gains in pharmaceutical companies.
The Dow Jones fell 23 points to close the day at 18,529 and the S&P 500 was down one point to 2,182. The Nasdaq lost six points to 5,244.
With the dollar strengthening against major currencies, oil prices were down more than 3 percent.
At the final bell, American benchmark West Texas Intermediate traded at $47.42 per barrel -- a 3.5 percent decline, while international benchmark Brent crude was at $49.16 per barrel -- a 3.4 percent loss.
Stocks of pharmaceutical companies increased between 3 to 14 percent Monday, after Pfizer announced it would acquire biopharmaceutical company Medivation for $14 billion.
Pfizer's stock value rose as high as 0.8 percent in Wall Street, while Medivation's climbed as much as 20 percent.