NEW YORK - U.S. stocks mostly slipped away from their latest record highs Wednesday as the two former halves of Hewlett-Packard both tumbled, while falling interest rates helped phone companies but hurt banks.
The price of oil jumped on reports OPEC and a group of other countries might extend the cuts in production they made at the start of this year. That took energy companies higher. Hewlett Packard Enterprise sank after it said CEO Meg Whitman will retire, while printer and PC maker HP lost ground after its latest quarterly report.
The Standard & Poor's 500 index dipped 1.95 points, or 0.1 percent, to 2,597.08. The Dow Jones industrial average slid 64.65 points, or 0.3 percent, to 23,526.18. The Nasdaq composite rose 4.88 points, or 0.1 percent, to a record 6,867.36. The Russell 2000 index of smaller-company stocks lost 2.13 points, or 0.1 percent, to 1,516.76.
All four indexes closed at record highs Tuesday, and on Wednesday most of the companies on the New York Stock Exchange finished higher.
U.S. markets will be closed Thursday for the Thanksgiving holiday. They will reopen Friday but will close at 1 p.m.
The two main companies that once comprised Hewlett-Packard took the largest losses in the S&P 500. Hewlett Packard Enterprise, which sells data-center hardware and tech gear, dropped after it announced company president Antonio Neri will replace Whitman as CEO Feb 1. Whitman became CEO of Hewlett-Packard in 2011 and oversaw its split in 2015. HPE also reported mixed fourth-quarter results.
Analysts said they were surprised by the timing because Whitman suggested last month that she wasn't leaving soon. Like several other analysts, Steven Milunovich of UBS said Neri is a good choice, but Whitman will be hard to replace.
"Whitman's star power could be missed when competing with the likes of Michael Dell, Chuck Robbins, and Ginni Rometty for large enterprise deals," he said, referring to the CEOs of Dell, Cisco Systems and IBM.
HP Enterprise fell $1.02, or 7.2 percent, to $13.10. Meanwhile HP Inc., which sells PCs and printers, had a solid quarter but couldn't sustain the gains it's made this year. The stock lost $1.12, or 5 percent, to $21.34. It's up 44 percent in 2017.
The dollar also weakened as investors expected lower interest rates. It sank to 111.17 yen from 112.44 yen. The euro rose to $1.1820 from $1.1742.
U.S. crude rose $1.19, or 2.1 percent, to $58.02 a barrel in New York. Brent crude, used to price international oils, gained 75 cents, or 1.2 percent, to $63.32 a barrel in London. Both oil benchmarks are at two-year highs.
Farm equipment maker Deere posted a bigger profit and better sales than analysts expected, and it also gave surprisingly strong forecasts for its new fiscal year. The stock climbed $6.02, or 4.3 percent, to $145.25.