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Cyclicals drag S&P 500 lower; Microsoft, Alphabet keep Nasdaq flat

Dow down 0.74%, S&P 500 down 0.51%, Nasdaq unchanged

Wall Street, US stocks, S&P, Dow Jones
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The S&P 500 growth index climbed about 0.28% while its value counterpart fell 1.44%

Chuck Mikolajczak | Reuters
The Nasdaq ended little changed on Wednesday, boosted by gains in Microsoft and Google parent Alphabet on the heels of their quarterly results, but a drop in oil prices and a pullback in Treasury yields weighed on cyclical sectors and pulled the S&P 500 lower.

Microsoft Corp gained 4.21% to close at a record high after forecasting a strong end to the calendar year, fueled in part by its booming cloud business. Alphabet Inc jumped 4.96% after reporting a record quarterly profit on a surge in ad sales.

The gains in the two stocks accounted for nearly 90 points to the upside