Investing.com -- Stocks on the U.S. equities markets were mixed on Thursday, one day after a broad rally following indications from the Federal Reserve that it will lower interest rates at some point in 2015.
Although the Dow Jones Industrial Average and S&P 500 Composite index retreated after Wednesday's gains, the NASDAQ Composite index closed higher for the fourth consecutive day. The Dow Jones Industrial Average fell 0.65% or 117.16 to 17,959.03, while the NASDAQ rose 0.19% or 9.55 to 4,992.38 as it neared the 5,000 level hit earlier in the month.
Sharp losses in the Oil & Gas, Basic Materials and Utilities sectors offset modest gains in Health Care, as the S&P 500 fell 0.49% or 10.23 to 2,089.27. Of all 10 sectors on the index, Health Care was the only one to close the day higher.
The top performer on the Dow was Merck & Company Inc (NYSE:MRK) which gained 0.59 or 1.02% to 58.24, after a comprehensive cardiovascular study provided encouraging results of its drug Vytorin for patients suffering from Acute Coronary Syndrome. Visa Inc . (NYSE:V), meanwhile, closed at 66.86 a share, after the multinational credit card company announced a 4-for-1 stock split. Visa, which is headquartered in Foster City, California, also announced a $5 billion stock buyback program on Thursday. Exxon Mobil Corporation (NYSE:XOM) also fell 1.67 or 1.94% to 84.40.
The biggest gainer on the NASDAQ was Wynn Resorts Limited (NASDAQ:WYNN), which rose 7.06 or 5.74% to 129.98, after Brean Capital set a buy rating and a price target of $174 a share for the Nevada-based developer of high-end hotels and casinos. VimpelCom (NASDAQ:VIP) was the worst performer on the index, falling 0.2 or 4.96% to 5.27.
Wynn was also the top performer on the S&P 500, just ahead of Urban Outfitters Inc (NASDAQ:URBN), which gained 1.60 or 3.55% to 46.70. Visa's stock split prevented Transocean from attaining the dubious distinction of being the worst performer on the index. The world's largest offshore drilling contractor fell 1.09 or 7.15% to 14.16. Earlier on Thursday, the Swiss-based company announced plans to scrap four rigs from its fleet.