NEW YORK (AA) – Wall Street closed mixed Monday as gains in tech stocks were balanced by a decline in oil prices.
The Dow Jones was down 28 points to end the day at 18,404 points, while the S&P 500 trimmed three points to reach 2,171. With the rise in tech stocks, the Nasdaq soared 22 points to 5,184.
Oil prices decreased more than 3 percent as worries over a supply glut intensified and the dollar strengthened against the British pound, euro, Chinese yuan and the Japanese yen.
At the final bell, the American benchmark West Texas Intermediate was down 3.8 percent to $40.41 a barrel, while international benchmark Brent crude was at $42.16 per barrel with a 3.2 percent decline.
Yet, the decline in oil prices was balanced by the rise in tech stocks to save Wall Street from total losses on the first trading day of the month.
Netflix shares were up 3.3 percent and Apple rose 1.8 percent.
And E-commerce giant Amazon became the world's fourth most valuable company with more than $360 billion in market value.