The markets closed lower with the Dow barely adding a point to 19,123 as concerns about a looming rate hike tempered enthusiasm for an oil production cut by OPEC. Nasdaq plunged 56 points 5,323.
On the upside
Shares of Genetic Technologies (Nasdaq: GENE) extended its gains.
An OPEC agreement to cut oil production sent shares of Denbury Resources (NYSE: DNR), EP Energy (NYSE: EPE), SM Energy (NYSE: SM) and Whiting Petroleum (NYSE: WLL) soaring.
Shares of drilling services providers Ensco (NYSE: ESV), Nabors Industries (NYSE: NBR) and Ocean Rig (Nasdaq: ORIG) surged as well.
On the downside
Cerecor (Nasdaq: CERC) reported disappointing results from a Phase 2 clinical trial of CERC-301 to treat major depressive disorder.
Shares of Nivalis Therapeutics (Nasdaq: NVLS) extended its losses.
Dynavax Technologies (Nasdaq: DVAX) will present clinical data from a Phase 1/2 clinical trial of SD-101 in patients with low-grade, B cell lymphoma at the 58th American Society of Hematology Annual Meeting and Exposition on Sunday, December 4, 2016.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 5 points to 2,198. Bitcoin climbed $8 to $739.
