NEW YORK, June 2 (UPI) -- Oil prices retreated Wednesday, sending the blue-chip Dow Jones industrial average sharply higher on Wall Street while tech stocks edged lower.
The Dow rose 60.32 points, or 0.59 percent, to close at 10,262.97 on a trading volume of 1.52 billion shares.
The tech-heavy Nasdaq composite index, which hasn't had a losing day in the past 11 sessions, gave up 1.79 points, or 0.09 percent, to close at 1,988.98 on 1.49 billion shares. The 500-stock Standard and Poor's index gained 3.79 points, or 0.34 percent, to close at 1,124.99.
The major market mover Wednesday was oil pricesm which fell below the $40-per-barrel level. Crude for July delivery gave up $2.37 to $39.96 a barrel, ahead of the Thursday meeting in Beirut of the Organization of Petroleum Exporting Countries.
The oil cartel was expected to boost production.
Traders also awaited the key job market report to be released Friday. The job numbers may give some clue as to whether the Federal Reserve will hike interest rates.
The dollar was mixed. It traded at 110.07 against the Japanese yen, down from 110.64 Tuesday. The euro fell to $1.2215 from $1.2244 in the previous session.
