Falling oil prices weigh on S&P 500, Dow

NEW YORK (Reuters) - The S&P 500 index and the Dow eased on Friday after a steep drop in oil prices pressured energy stocks, but losses were limited by gains in chipmakers and retail stocks.

FILE PHOTO: Traders work at the Citadel Securities post on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 18, 2016. REUTERS/Brendan McDermid/File Photo

The Dow Jones Industrial Average .DJI fell 58.67 points, or 0.24 percent, to 24,753.09, the S&P 500 .SPX lost 6.43 points, or 0.24 percent, to 2,721.33 and the Nasdaq Composite .IXIC added 9.43 points, or 0.13 percent, to 7,433.85.

Reporting by Caroline Valetkevitch; Editing by Chris Reese