(CNBC) — Stocks closed mixed on Wednesday, the last day of the month, as energy stocks surging on an OPEC deal to cut production, while investors digested solid economic data.
The Dow Jones industrial average briefly rose 100 points, hitting a new record intraday high of 19,225.29, before closing about 2 points higher as Goldman Sachs, Chevron and DuPont contributed the most gains. The S&P 500 closed about 0.25 percent lower, after also reaching record levels, with energy spiking about nearly 5 percent to lead advancers. The Energy Select Sector SPDR Fund (XLE) also popped nearly 5.1 percent. A 3.18 percent fall in utilities, however, offset energy's sharp gains.
"It feels like the market is doing the end-of-the-month dance," said Art Hogan, chief market Strategist at Wunderlich Securities. "A bit of a giveback here on the last day of the month makes sense. Tomorrow, a new month starts and December has some pretty good cyclicals."
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