Energy Stocks Hit Hard on Sinking Oil Prices; Stocks Close Mixed

Stocks close mixed, with the S&P 500 virtually unchanged. The Dow Industrials ended just slightly lower and the tech-heavy Nasdaq managed to eke out some gains on Monday.

Author:: Susannah Lee
Publish date:: Nov 3, 2014 4:48 PM EST

Stocks were mixed with the S&P 500 closing virtually unchanged, Dow Industrials ended just slightly lower and the tech heavy Nasdaq did manage to eke out some gains on Monday. Crude oil dropped to settle at $78.78 for December delivery. The energy sector was Monday's worst performer. Diamond Offshore Drilling (DO) lost more than 5%. Noble Energy (NBL) and Transocean (RIG) both declined more than 3%. Dow components Chevron (CVX) and Exxon Mobil (XOM) were the blue chips' worst performers. Aside from energy, Home Depot (HD) was the next biggest drag for the Dow. Mid-term elections are slated for Tuesday. Other potential market movers are earnings. Alibaba (BABA), Burger King (BKW) and Discovery Communications (DISCA) are all set to release their quarterly results.