YAHOO [BRIEFING.COM]: A slump among energy stocks dragged down the broad market, but afternoon support helped the major equity averages recover into the close.

Trade was generally unimpressive for the first half of the day. Selling eventually intensified to take the Nasdaq down to a loss of more than 1%. Akamai Tech (AKAM 33.46, -0.77) and Amazon.com (AMZN 198.45, -2.74) were among its heaviest drags. Nasdaq component Foster Wheeler (FWLT 34.20, -1.05) was also a heavy drag following news that the oil services company's earnings came short of the consensus estimate.

Energy stocks were weak across the board. Even Anadarko Petroleum (APC 78.51, -1.84) dropped sharply, despite a much stronger-than-expected earnings report. Overall, energy stocks fell to a 2.4% loss. A 2.2% drop in oil prices to $111.05 per barrel didn't bode well for the energy sector. Oil prices haven't been that low in more than two weeks.

The broad market did a decent job of limiting selling pressure, especially since today's leaders were utilities stocks (+0.7%) and telecom stocks (+1.5%) -- neither has much sway with the market, given their lack of weight.

Blue chip Pfizer (PFE 20.44, -0.58) fell sharply, even though the pharmaceutical play posted an upside earnings surprise. Its weakness in the Dow was offset by Intel (INTC 23.23, +0.32) and Bank of America (BAC 12.60, +0.26).

A big earnings beat by MasterCard (MA 282.38, +7.09) helped make the stock a top performer; shares set a near three-year high.

Even though today's action wasn't very exciting, and there weren't many catalysts to bring in traders from the sidelines, share volume on the NYSE hit 1 billion shares for the first time in about a month.

It was another large move lower for July silver, which dropped 7.9% to close at $42.42 per ounce, as new margin requirements set in at the close of pit trade, forcing some market participants to liquidate their positions. Silver extended its sell off in electronic trade, where it notched fresh lows at $40.81 per ounce, marking its lowest levels since mid-April. June gold shed 1.1% to close at $1540.20 per ounce, closing lower for a second consecutive session. Modest strength in the dollar weighed on gold.

June crude oil shed 2.2% to settle at $111.05 per barrel, weighed on by demand concerns as well as the modest strength in the dollar. Crude oil's lows mark its lowest levels in over 2 weeks. It was an uneventful session for June natural gas, which shed 0.5% to close at $4.67 per MMBtu.

Advancing Sectors: Telecom (+1.5%), Utilities (+0.7%), Financials (+0.4%), Consumer Staples (+0.3%)
Declining Sectors: Tech (-0.2%), Industrials (-0.3%), Health Care (-0.3%), Consumer Discretionary (-0.5%), Materials (-1.0%), Energy (-2.4%)DJ30 +0.15 NASDAQ -22.46 NQ100 -0.5% R2K -1.3% SP400 -1.1% SP500 -4.60 NASDAQ Adv/Vol/Dec 782/2.23 bln/1824 NYSE Adv/Vol/Dec 1042/1.00 bln/1949