By Caroline Valetkevitch
NEW YORK (Reuters) - The S&P 500 and Dow declined on Tuesday as investor uncertainty persisted amid the U.S.-Iran standoff, while energy shares fell as oil prices gave up recent gains.
Exxon Mobil Corp
Chipmakers gained and helped to keep the Nasdaq in positive territory. The Philadelphia Semiconductor index <.SOX> rose, boosted by Micron Technology Inc
Equity investors have been jittery since late last week, when a U.S. drone strike killed Iranian Major General Qassem Soleimani, taking major indexes off record highs.
"There are a number of headlines on the political front that the market is trying to get their arms around," said Jack Janasiewicz, portfolio manager and strategist at Natixis Investment Managers' Multi-Asset Portfolio Solutions group in Boston.
"The knee-jerk reaction is to have a little bit of volatility, a little of repricing some of the risks."
The Dow Jones Industrial Average <.DJI> fell 76.09 points, or 0.27%, to 28,627.29, the S&P 500 <.SPX> lost 4.43 points, or 0.14%, to 3,241.85 and the Nasdaq Composite <.IXIC> added 10.64 points, or 0.12%, to 9,082.11.
On the economic front, data showed new orders for U.S.-made goods fell in November, pulled down by steep declines in demand for machinery and transportation equipment, pointing to sustained weakness in manufacturing.
However, a reading on non-manufacturing sector activity for November came in better than expected.
Among gainers, Microchip Technology Inc
Declining issues outnumbered advancing ones on the NYSE by a 1.27-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored decliners.
The S&P 500 posted 37 new 52-week highs and one new low; the Nasdaq Composite recorded 91 new highs and 15 new lows.
(Additional reporting by Sruthi Shankar, Medha Singh and Susan Mathew in Bengaluru; Editing by Shounak Dasgupta and Jonathan Oatis)
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Updated Date: Jan 08, 2020 03:06:25 IST