US stocks were mixed on 19 April as the tech and consumer discretionary sectors weighed as oil prices rose. While the Dow Jones and S&P 500 closed up, the Nasdaq Composite underperformed and eased in afternoon trade to close down.
The Dow Jones Industrial Average rose 49.44 points, or 0.3%, to settle at 18,053.60. The Dow rose to 18,103 in early trading, despite declines in tech stocks weighing heavily. IBM, which dropped more than 6%, contributed to about a 60 point decline in the Dow Jones. Johnson & Johnson, Goldman Sachs and UnitedHealth were the biggest contributors to gains.
The S&P 500 also rose, gaining 6.46 points, or 0.3%, to close at 2,100.80, its best level since December. Energy and materials, which traded 1.5% higher, were the top performing sectors along with financials.
Meanwhile, the Nasdaq Composite dropped 19.69 points, or 0.4%, to settle at 4,940.33. The tech-heavy average took a hit after Illumina dropped more than 20% and Netflix plunged over 11%.
"We are starting to see differences in performance across the sectors based on fundamentals instead of painting the market with a broad brush," Luke Tilley, chief economist at Wilmington Trust Investment Advisors, told MarketWatch. "That is a sign that market participants are looking at individual sectors rather than focusing on the broad view of a global slowdown."
US crude oil futures for May delivery gained $1.30, or 3.27%, to settle at $41.08 a barrel. After crude oil futures for May delivery settle on 20 April, the contract will roll to June, which traded above $42 a barrel.
Treasury yields closed higher, with the 2-year yield near 0.75% and the 10-year yield at 1.78% at 2.20pm EDT/7.20pm GMT. CNBC reported that the US dollar index traded lower, with the euro at $1.138 and the yen at 109.1 yen against the greenback. Gold futures traded $19.30 higher to settle at $1,254.30 an ounce.
Abroad, markets in Europe and Asia appeared to close in positive territory. European stocks settled 1% higher and Germany's DAX outperformed to surge more than 2%. Meanwhile, Japan's Nikkei 225 surged more than 3.5%, China's Shanghai Composite closed up 0.3% and Hong Kong's Hang Seng rose 1.3%.