The Nasdaq Composite Index rose on Thursday after sharp gains in Apple Computer Inc, while blue chip stocks ended marginally lower as sliding crude oil prices hit the energy sector.
Shares of Apple surged 9.1 percent to $53.74, a day after the computer company unveiled an iPod that plays video and unveiled a television distribution deal with Walt Disney Co Disney shares were up 0.4 percent at $23.43 on the New York Stock Exchange.
Wall Street analysts on Thursday said Apple's new products may help it gain market share and increase revenue.
Dow component McDonald's Corp's stock rose 1.2 percent to $32.05 on the NYSE a day after the world's largest fast-food chain reported preliminary third-quarter results that topped Wall Street's forecasts.
The Dow Jones industrial average inched down 0.32 of a point, or 0.00 percent, to close at 10,216.59. The Standard & Poor's 500 Index edged down 0.84 of a point, or 0.07 percent, to finish at 1,176.84. But the technology-laced Nasdaq Composite Index ended up 9.75 points, or 0.48 percent, at 2,047.22.
"I have to come away with the view that the drop in crude prices offered the opportunity for a relief rally, although it didn't offer that much relief," said Anthony Chan, senior economist at J.P. Morgan Asset Management.
US crude futures for November delivery lost $1.04 to settle at $63.08 a barrel after US government data showed a rise in crude oil supplies of 1 million barrels last week. While supportive for the broader market, lower oil prices pushed down shares of heavily weighted energy companies.
Exxon Mobil Corp, down 1.3 percent, or 78 cents, at $58.16, was one of the biggest weights on the Dow average. Exxon also had the biggest negative impact on the broad S&P 500. Chevron Corp was down 2.3 percent, or $1.42, at $59.54, also in NYSE trading.
Weighing on the market were data on the trade deficit and import prices, Chan said.
Altria Group Inc, another Dow component, slid 1.8 percent, or $1.30, to $69.60 before an expected Florida Supreme Court ruling in a landmark tobacco case.
The woes surrounding Refco Inc, the commodities and futures brokerage, hit shares of the Chicago Mercantile Exchange. "It almost reminds people of Enron," Todd Leone, head of listed trading at S.G. Cowen said, referring to the Houston energy company that collapsed amid an accounting scandal in late 2001.
Refco, whose shares were halted on Thursday after falling more than 60 percent this week, said liquidity at a major unit is no longer sufficient to continue operations.
Shares in the CME, the largest US futures exchange, have fallen about 14 percent this week, partly the result of "guilt by association" with the Refco case. CME's stock fell 2.7 percent to $310.40 on the NYSE. Trading was heavy, with 1.83 billion shares changing hands on the New York Stock Exchange, well above the 1.46 billion daily average for last year. About 1.82 billion shares were traded on Nasdaq, in line with the 1.81 billion daily average last year.