(Bloomberg) -- U.S. stocks were mixed as a rally in banks took the Dow to a fresh record, while technology shares tumbled. The dollar strengthened as factory data bolstered optimism in the strength of the American economy.

Energy and financial shares lifted the S&P 500, though the measure erased more than half of its gain in the final hour of trading. The Dow rose as much as 243 points to an intraday record before closing higher by 130 points. The Nasdaq 100 dropped 0.9 percent. Markets closed at 1 p.m. ahead of the July 4 holiday. The dollar strengthened the most in two weeks after American factories powered up in June at the fastest pace in nearly three years. Crude climbed after industry data Friday showed active U.S. rigs declined for the first time in 24 weeks.

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