The Nasdaq composite index notched its fourth record-high close in a row Tuesday, eking out a modest gain on a day when the other major U.S. stock indexes barely budged.

After wavering between small gains and losses for much of the day, the Standard & Poor’s 500 index closed unchanged, while the Dow Jones industrial average posted a slight loss. More stocks rose than fell on the New York Stock Exchange.

Consumer-focused companies, banks and healthcare stocks were among the biggest gainers. Real estate companies lagged the most. Energy stocks also fell following a drop in crude oil prices.

Encouraging reports on small business confidence and job openings helped keep stocks in the green early in the day. But later in the session, the indexes began to waver.


“I do think the market stays kind of quiet until it really hits earnings season,” said David Chalupnik, head of equities for Nuveen Asset Management. “The market will really start to take its direction when earnings season starts in full, and that’s Friday.”

The Nasdaq composite climbed 20 points, or 0.4%, to 5,551.82. The index has closed higher six days in a row. The S&P 500 ended unchanged at 2,268.90. The Dow slipped 31.85 points, or 0.2%, to 19,855.53.

Although the busiest stretch of the next corporate earnings season doesn’t begin until Friday, several companies reported outlooks or preliminary results Tuesday that pleased investors.

Illumina jumped 16.6% to $165.04 after it reported better-than-expected fourth-quarter sales. The San Diego company also launched a new genetic sequencing system called NovaSeq. The stock led the gainers in the S&P 500.


Alaska Air Group rose 5.2% to $92 after the airline, which bought Virgin America in December, reported strong monthly results.

Zimmer Biomet climbed 6.2% to $113.67 after the medical device maker projected better-than-expected fourth-quarter sales.

Other companies’ outlooks put traders in a selling mood.

Ascena Retail Group slumped 10% to $5.41 after the company slashed its profit forecast, citing holiday season sales, which fell for most of its store chains, including Ann Taylor, Lane Bryant and Dressbarn.


Meanwhile, investors boosted shares in Pacific Continental on news that the holding company for Pacific Continental Bank will be bought by Columbia Banking System for $644 million. Pacific Continental shares leaped 25.7% to $26.15. Columbia shares slid 2.9% to $42.05.

Valeant Pharmaceuticals International jumped 6.8% to $16.40 after the Canadian drugmaker said it will sell $2 billion in assets to pay down debt.

Major stock indexes in Europe notched gains, led by Britain’s FTSE 100, which rose 0.5%, closing at a new all-time high for the ninth day in a row. Germany’s DAX rose 0.2% and the CAC40 of France inched up 0.1%. In Asia, Japan’s Nikkei 225 index dropped 0.8%, while the Kospi in South Korea slipped 0.2%. Hong Kong’s Hang Seng climbed 0.8%.

U.S. benchmark crude oil fell $1.14, or 2.2%, to $50.82 a barrel. Brent crude, which is used to price oil sold internationally, fell $1.30, or 2.4%, to $53.64 a barrel.


In other energy trading, wholesale gasoline slid 2 cents to $1.55 a gallon and heating oil fell 3 cents to $1.61 a gallon. Natural gas futures rose 18 cents, or 5.6%, to $3.28 per 1,000 cubic feet.

Even so, several natural gas companies closed lower. Williams Cos. was down the most among stocks in the S&P 500 index, sinking 10.7% to $28.50. Oneok slid 2.5% to $56.07.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.38% from 2.37% late Monday.

The pound held steady at $1.2163. The dollar fell to 115.73 yen from Monday’s 116.06. The euro fell to $1.0560 from $1.0577.


In metals trading, the price of gold edged up 60 cents to $1,185.50 an ounce. Silver rose 17 cents to $16.85 an ounce. Copper rose 7 cents to $2.61 a pound.

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UPDATES:

3 p.m.: This article was updated with closing prices, analyst comment and background information.

1:20 p.m.: This article was updated with the close of markets.


9 a.m.: This article was updated with market prices and context.

This article was originally published at 7:05 a.m.