Investing.com -- U.S. stocks pared earlier gains on Tuesday when the NASDAQ Composite index and the S&P 500 retreated from fresh record intraday highs, as plunging oil stocks offset slight gains among the Health Care and Technology sectors.
The Dow Jones Industrial Average gained 3.76 or 0.02% to 18,533.05, while the NASDAQ added 12.34 or 0.24% to 5,225.48, as the recent pattern of sideways, range-bound trading on Wall Street persisted. At session-highs, the NASDAQ peaked at 5,238.54, hitting an all-time intraday high for the second time in three sessions. The S&P 500 Composite index, meanwhile, also rose to a new intra-session high of 2,187.66, before falling back to 2,181.74, up 0.85 or 0.04% on the day. On the S&P 500, six of 10 sectors closed in the green as stocks in the Technology, Health Care and Telecommunications sectors led.
Over the last two-and-a-half weeks, the S&P 500 has added approximately 0.25% reflecting a current "wait-and-watch," mentality among traders. As a result, the CBOE Vix Volatility Index fell as low as 11.03 in Tuesday's session, sliding to its lowest level on the year. Since early-February, the Vix has tumbled approximately 55%.
The top performer on the Dow was Walt Disney Company (NYSE:DIS), which rose 1.03 or 1.07% to 96.78, ahead of the release of second quarter earnings on Tuesday after the bell. Shares in Disney are down roughly 14% over the last year since CEO Bob Iger rattled investors during a second quarter conference call last summer by sounding alarm bells on the future growth potential of ESPN. Iger could soothe jittery investors on Tuesday evening with reassurances that broad cord-cutting initiatives in the industry can be contained. The worst performer was American Express Company (NYSE:AXP), which fell 1.03 or 1.07% to 96.78. Shares in American Express (NYSE:AXP) are relatively flat over the last few weeks since the credit card giant officially cut ties with U.S. wholesaler Costco Wholesale Corporation (NASDAQ:COST) earlier this summer.
The biggest gainer on the NASDAQ was Liberty Ventures (NASDAQ:LVNTA), which added 1.32 or 3.59 or 37.96. Shares in Liberty Interactive (NASDAQ:QVCA), the parent company of home shopping network QVC, continue to rally after plummeting more than 20% in last Friday's session when CEO Greg Maffei warned that the company could be entering a "choppy retail environment." The worst performer was Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH), which plunged 4.97 or 11.57% to 37.99, after the international cruise line cut its profit forecasts for the rest of this year and 2017. It came amid a softer demand outlook in the U.S. and the euro area, as well as heightened concerns from a weakening British pound.
On the S&P 500, Endo International PLC (NASDAQ:ENDP) finished as the top performer after soaring 3.97 or 21.80% to close at 22.16. Earlier, the specialty pharmaceutical company posted better than expected second quarter results, driven by a 67% in net sales from its U.S. generic business following last September's acquisition of Par Pharmaceutical. The worst performer was Scripps Networks Interactive Inc (NASDAQ:SNI), which fell 4.74 or 7.16% to 61.43.
On the New York Stock Exchange, advancing issues outnumbered declining ones by a 1,585-1,352 margin.