The S&P 500 and Nasdaq fell on Tuesday on profit taking in financials and technology, while a drop in U.S. exports and fresh stock sales by various companies damped investor enthusiasm.
Among the heaviest weights were JPMorgan Chase & Co
The Dow recovered earlier losses to trade little changed as investors snapped up energy shares and defensive stocks including healthcare.
Big-cap technology companies weighed on the Nasdaq, including Apple Inc
In economic news, data showed the U.S. trade gap widened in March for the first time in eight months, signaling weak overseas demand.
Investors also fretted over an apparent lack of incentives to drive the market higher.
Investors are looking for some type of catalyst and there isn't a visible one out there that they can invest off of right now, said Bucky Hellwig, senior vice president at Morgan Asset Management in Birmingham, Alabama.
The thawing of the financial markets, the end of the stress tests were clearly visible catalysts that played out well.
The Dow Jones industrial average <.DJI> added 13.78 points, or 0.16 percent, to 8,432.55. The Standard & Poor's 500 Index <.SPX> was down 3.83 points, or 0.42 percent, at 905.41. The Nasdaq Composite Index <.IXIC> fell 19.76 points, or 1.14 percent, to 1,711.48.
The broad S&P 500 earlier fell below the key support level of 900 for the first time in a week but is up 33.3 percent from March lows in a rally spurred by optimism that the financial sector and economy are showing signs of stabilization.
Shares of Ford
Investors worried that the new offerings were dilutive to existing shareholders as companies tried to raise cash to stay afloat.
Energy company shares gained as U.S. crude oil futures hit a six-month high of $60 a barrel before easing to $58.66. Exxon Mobil Corp
Drug makers Merck & Co Inc
(Editing by Kenneth Barry)