* Amazon rises after comScore data on Cyber Monday
* Inventory data hits crude oil, energy stocks
* Dow down 0.2 pct, S&P up 0.03 pct, Nasdaq up 0.4 pct
* For up-to-the-minute market news, click []
(Updates close with Bank of America shares up after the bell)
By Caroline Valetkevitch
NEW YORK, Dec 2 (Reuters) - The Nasdaq rose on Wednesday as
strong online holiday sales boosted shares of retailers,
including Amazon.com <AMZN.O>, and relieved some concerns about
the consumer.
The Dow edged lower as falling oil prices prompted
investors to sell energy shares, while the Standard & Poor's
index finished flat.
Worries that bank profits could be hurt by derivatives
legislation under consideration also curbed enthusiasm about
the broader market.
Amid continued questions about retailers' strength in the
holiday shopping season, online vendors turned out to be strong
performers after analytics firm comScore said that Cyber Monday
sales rose 5 percent from the previous year. For details, see
[]
Shares of Amazon jumped 2.7 percent to $142.25 on Nasdaq,
and during the session, the stock hit a split-adjusted all-time
high of $142.67. []
"It's not a surprise e-commerce retail is expected to be
much stronger than bricks-and-mortar retail this season. More
people are content to do more convenient shopping online (and)
get just as good, if not better, discounts," said Michael
James, senior trader at regional investment bank Wedbush Morgan
in Los Angeles.
The Dow Jones industrial average <> declined 18.90
points, or 0.18 percent, to end at 10,452.68. The Standard &
Poor's 500 Index <.SPX> inched up just 0.38 of a point, or 0.03
percent, to finish at 1,109.24. The Nasdaq Composite Index
<> gained 9.22 points, or 0.42 percent, to close at
2,185.03.
BANK OF AMERICA JUMPS LATE
Shares of Bank of America Corp <BAC.N> rose 3.2 percent to $16.15
after the closing bell as it said it has worked out a deal with the
government to repay $45 billion in taxpayer bailout funds, known as
Troubled Asset Relief Program (TARP) funds, by raising new capital.
During the regular session, the banking company's stock closed at
$15.65, down 1.5 percent, on the NYSE. []
An ADP National Employment private-sector survey showed
U.S. private employers shed 169,000 jobs in November. That data
got Wall Street's attention because weakness in the labor
market is one of the biggest headwinds facing a recovery.
While the number was fewer than the 195,000 jobs cut in
October, the ADP report was worse than expected.
[] The U.S. government's key monthly employment
report is due Friday morning.
In other economic data, the Federal Reserve said in a
report the weak U.S. economy is improving modestly with little
upward pressure on wages and finished goods. []
Meanwhile, an unexpected increase in energy supply gave
investors a reason to unload some energy companies' shares,
pushing the S&P Energy index <.GSPE> down 0.8 percent and
making it the worst performer among S&P sectors. Occidental
Petroleum <OXY.N> shed 1.2 percent to $81.21. Exxon Mobil Corp
<XOM.N> dropped 0.3 percent to $75.79.
January crude oil futures <CLc1> fell $1.77 to settle at
$76.60 per barrel after U.S. government inventory data showed a
surprising build in crude and gasoline
stockpiles.[]
JPMorgan Chase & Co <JPM.N> said it could see its revenue
fall by as much as $3 billion in a "worst case" scenario under
the legislation, according to a note from Sanford C. Bernstein
to investors. Shares of JPMorgan, a Dow component, fell 0.7
percent to $41.93. []
The S&P financial index <.GSPF> dipped 0.1 percent.
Volume was light on the New York Stock Exchange, with 1.03
billion shares changing hands, well under last year's estimated
daily average of 1.49 billion, while on the Nasdaq, about 2.08
billion shares traded, below last year's daily average of 2.28
billion.
Advancing stocks outnumbered declining ones on the NYSE by
a ratio of nearly 2 to 1, while on the Nasdaq, about eight
stocks rose for every five that fell.
(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)
((caroline.valetkevitch@thomsonreuters.com; +1 646 223 6393;
Reuters
Messaging:caroline.valetkevitch.reuters.com@reuters.net))
