Apple Inc (AAPL.O), the largest U.S. company by market value, will join the Dow Jones industrial average .DJI, replacing AT&T Inc (T.N), in a change that reflects the dominant position of the iPhone maker in the U.S. consumer economy.
U.S. stocks closed down on Wednesday for the second day in a row as investors stepped back after a recent rally ahead of jobs data due later in the week.
U.S. stocks finished down on Tuesday, a day after the S&P and Dow hit records, and the Nasdaq retreated with technology stocks.
The Nasdaq on Monday closed above 5,000 for the first time since the year 2000 dot-com bubble as tech stocks were boosted by deals, while the S&P 500 and Dow indexes hit records after economic data pointed to a slowly accelerating economy.
The Nasdaq resumed its recent advance on Thursday after deal news in the technology sector, while the Dow and S&P 500 dipped as energy shares sank with oil prices.
The S&P 500 closed down and the Nasdaq snapped a 10-session winning streak on Wednesday as investors took profits in Apple shares, while the Dow eked out another record high close.
U.S. stocks closed higher on Tuesday, with the Dow and S&P 500 hitting records, as investors attempted to interpret a subtle change in emphasis in testimony by Federal Reserve Chair Janet Yellen.
The Nasdaq ended higher on Monday for a ninth straight day following gains in Apple (AAPL.O), while the Dow and S&P 500 eased off recent record highs as lower oil prices dragged down energy shares.
After a holiday-shortened trading week that pinned stocks in a tight trading range, equities are poised for a bout of renewed volatility as investors watch the economy and the Federal Reserve for signs of policy changes and economic strength.
The Dow and S&P 500 ended at record highs on Friday while the Nasdaq notched an eighth straight day of gains after Greek and euro zone finance ministers reached a deal to extend heavily indebted Greece's financial rescue by four months.
The Dow and S&P 500 ended barely lower on Wednesday after a drop in energy shares but declines were limited by minutes from the latest Federal Reserve meeting, which showed policymakers are concerned about raising interest rates too soon.
The S&P 500 ended above 2,100 at another record high on Tuesday as optimism grew that a debt deal would be reached with Greece and as bond prices sold off.
U.S. stocks are poised for more upward momentum even as uncertainty over oil prices and Greek debt negotiations keeps the market on tenterhooks, analysts say.
Activist Investor Carl Icahn thinks Apple Inc is already worth over $1 trillion but others on Wall St. think it will take a few more years for the iPhone maker's stock value to get there.
Asian stock markets were subdued on Wednesday while major currencies barely budged as looming euro zone meetings to discuss the Greek debt crisis overshadowed a firmer finish on Wall Street.
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