The stock market closed mixed Wednesday as indexes faded late but continued a trend of modest price movements.
The Nasdaq edged out a gain of less than 0.1%, but the S&P 500 lost 0.2% and the Dow Jones industrial average fell 0.3%. Just like on Tuesday, the indexes weakened into the close and ended near session lows.
Dow component Caterpillar (CAT) weighed on the industrials after the New York Times reported that the heavy-equipment maker was accused of tax fraud.
Volume was higher in the major exchanges, according to early numbers.
Retail, a sector that's been battered, led the market. Just like it was unclear why the sector sold off Monday, there were no obvious reasons to explain Wednesday's rally.
Apparel retailers did get a boost after Children's Place (PLCE) soared past the 11.30 buy point of a base-on-base pattern. The chain beat profit expectations and raised its dividend.
Biotechs also were up broadly. The group climbed 1.5%, among the day's top five.
Homebuilders continued their emergence in the market leadership. Century Communities (CCS), Lennar (LEN), Pulte Group (PHM) and a few other builders continued to rise from their latest breakouts.
But the energy sector tumbled after U.S. oil futures slid 5.4% to $50.28 a barrel. U.S. oil production climbed last week to the highest level since February 2016, and crude inventories rose for the ninth straight week.
Utilities were in the bottom as well. IBD's four utility industry groups finished in the bottom 20 of 197 groups.
An early burst in financials came apart quickly. The SPDR Financial (XLF) ETF erased most of a 1.4% increase to close with a minimal gain.
On Thursday, earnings are due out from Finisar (FNSR), Ulta Beauty (ULTA) and Embraer (ERJ). Economic data being announced Thursday include the weekly jobless claims at 8:30 a.m. ET.
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