Summary World oil prices slid after the US-led landmark deal struck Sunday with major crude producer Iran.
NEW YORK (AFP) - US stocks traded in mixed fashion Monday after world powers and Iran struck an interim deal to curtail Iran s controversial nuclear program in exchange for an easing of international sanctions.
An hour into trade, the Dow Jones Industrial Average added 21.64 points (0.13 percent) at 16,086.41.
The broad-based S&P 500 edged down 0.12 (0.01 percent) to 1,804.64, while the tech-rich Nasdaq Composite slipped 2.31 (0.06 percent) to 3,989.34.
The Nasdaq index earlier topped 4,000 for the first time since 2000, when stocks were plunging after the dot-com collapse.
Markets pared robust opening gains after the National Association of Realtors reported that US pending home sales slowed for the fifth straight month in October.
World oil prices slid after the US-led landmark deal struck Sunday with major crude producer Iran. The six-month agreement would be a preliminary step toward resolving the major powers concerns that Iran is developing nuclear weapons, a charge Iran denies.
"Lower energy costs are good for consumers and most businesses, so the agreement has been painted in a supportive light for earnings prospects," said Patrick O Hare of Briefing.com.
Caterpillar led the Dow gainers, soaring 2.4 percent, while Boeing was the biggest laggard, down 2.6 percent.
Wal-Mart Stores shares rose 0.7 percent after the global retail titan named Doug McMillon, a company veteran who heads its international operations, to replace chief executive Mike Duke when Duke retires early next year.
Nasdaq heavyweight Apple added 0.8 percent after buying PrimeSense, an Israeli motion-sensing technology company. The financial terms of the transaction were not disclosed.
Struggling department store chain JC Penney jumped 3.1 percent after being booted from the S&P 500 index, effective the coming Friday.
Bond prices rose. The yield on the 10-year US Treasury edged down to 2.74 percent from 2.75 percent Friday, while the 30-year dipped to 3.82 percent from 3.84 percent. Bond prices and yields move inversely.
