Investing.com -- U.S. stocks were mixed on Thursday, ahead of the release of a critical monthly jobs report, as crude futures plunged to near two-month lows dragging down equities on the major indices.
The Dow Jones Industrial Average fell 22.74 or 0.13% to 17,895.88, while the S&P 500 Composite index dropped 1.83 or 0.09% to 2,097.90, erasing some gains from the Post-Brexit rally. It came as crude futures plummeted more than 4% after the U.S. Department of Energy reported a smaller than expected draw last week. Although crude inventories nationwide fell 2.23 million barrels on the week, analysts anticipated steeper declines following a 6.7 million barrel draw from the American Petroleum Institute a night earlier. The drawdown represented the largest decrease in 13 months.
On the S&P 500, six of 10 sectors closed in the green, as stocks in the Technology, Consumer Services and Basic Materials industries led. Safety stocks in defensive industries such as the Telecom and Utilities sectors lagged, each falling more than 1.4% on the session. Over the last two weeks, the high-yield, defensive plays have been among the top performers on Wall Street in the wake of the historic Brexit decision.
Meanwhile, the NASDAQ Composite index closed as the day's overperformer gaining 17.65 or 0.36% to 4,876.81.
The top performer on the Dow was Goldman Sachs Group Inc (NYSE:GS), which gained 1.12 or 0.77% to 146.70. Goldman Sachs finished just above Intel Corporation (NASDAQ:INTC), which added 0.25 or 0.76% to 33.22. Earlier this week, analysts at KeyBanc rose their price target on the chip giant while citing above-seasonal demand for the third quarter and lean PC inventory levels. Shares in Intel are relatively flat over the last six months. The worst performer was Verizon, which fell 0.88 or 1.56% to 55.38. Verizon, which currently has 4.02% dividend yield, retreated from 52-week highs from the previous session.
The biggest gainer on the NASDAQ was Biomarin Pharmaceutical Inc (NASDAQ:BMRN), which jumped 7.04 or 8.71% to 87.85. Earlier, shares in Biomarin popped following a report from Betaville that the San Rafael, Calif. based pharmaceutical company could emerge as a takeover target for Swiss drug maker Roche at a range between $130 and $150 per share. It is unclear whether Roche has made an actual offer. The worst performer was Walgreens Boots Alliance Inc (NASDAQ:WBA), which fell 0.95 or 1.16% to 80.60.
The top performer on the S&P 500 was Costco Wholesale Corporation (NASDAQ:COST), which added 7.71 or 4.94% to 163.72 after reporting stronger-than-expected same store sales in June. For the month, the member-only warehouse club reported flat comparable store sales, above analysts' expectations of 1.5% declines. The worst performer was First Solar Inc (NASDAQ:FSLR), which plunged 4.83 or 9.82% to 44.31. First Solar finished just below Humana Inc (NYSE:HUM), which lost 16.35 or 9.08% to 163.63. Humana (NYSE:HUM) shares fell sharply amid reports that officials from the Justice Department will be meeting with company executives on Friday to discuss significant anti-trust concerns with the insurer's $37 billion proposed merger with Aetna Inc (NYSE:AET).
On Friday morning, the U.S. Department of Labor is expected to reported monthly job gains of 180,000 when the Bureau of Labor Statistics releases its June jobs report. A month earlier, nonfarm payrolls in the U.S. rose by 38,000 its lowest monthly increase in nearly six years.
On the New York Stock Exchange, advancing issues outnumbered declining issues by a 1,614-1,372 margin.