The major averages fell modestly Wednesday as energy stocks followed oil prices lower. Exxon Mobil (XOM) and Chevron (CVX) paced losses on the Dow.
The Nasdaq slid 0.4%, the S&P 500 edged down 0.3% and the Dow Jones industrial average dipped 0.2%. Volume in the stock market today was mixed, edging higher on the NYSE but falling a fraction on the Nasdaq, according to preliminary data.
Exxon Mobil lost nearly 2% and Chevron declined 1% after oil prices sank below $42 a barrel due to an unexpected increase in U.S. crude stockpiles. Gold miners and apparel stocks bucked the declines.
Ralph Lauren (RL) popped more than 8% after a better-than-expected quarterly earnings report. Hanesbrands (HBI) rose 3%.
After the close, shares of burger chain Shake Shack (SHAK) plunged 9% following its Q2 results.
Shake Shack reported a 56% rise in profit to 14 cents a share, beating Wall Street estimates. Revenue climbed 37% to $66.5 million, also above views. But same-store sales rose 4.5%, less than forecast.
Blue Buffalo Pet Products (BUFF) climbed 2% in post-session trading after its Q2 report. The stock rose 1% during the regular session, closing above a 26.79 buy point for the first time.
The maker of premium pet food posted a 46% increase in Q2 profit to 19 cents a share, ahead of analysts' forecasts. Sales rose 13% to $287 million, also better than expected.
