Connect with us

Hot world news

Markets Right Now: Stocks fall as oil prices spike

Markets Right Now: Stocks fall as oil prices spike

ECONOMIC NEWS

Markets Right Now: Stocks fall as oil prices spike

The latest on developments in financial markets (all times local):

11:50 a.m.

Stocks are lower at midday Monday as oil prices spike following a weekend attack on major oil facilities in Saudi Arabia.

The U.S. and international benchmarks for crude oil each rose more than 11%. Shares of oil producers rose sharply, with Marathon Oil gaining 8.8%.

Companies in fuel-dependent industries fell. American Airlines dropped 5.3% and Royal Caribbean Cruises slipped 1.4%.

The Dow Jones Industrial Average fell 152 points, or 0.6%, to 27,067. The index has risen for eight consecutive days.

The S&P 500 is down 12 points, or 0.4%, to 2,994. The Nasdaq fell 32 points, or 0.4%, to 8,144.

Bonds rose after a recent sell-off. The yield on the 10-year Treasury dropped to 1.85% from 1.90% Friday. That hurt bank stocks, with Citigroup dropping 1.2%.

———

9:40 a.m.

Stocks are lower early Monday as oil prices spike following a weekend attack on major oil facilities in Saudi Arabia.

The U.S. and international benchmarks for crude oil each rose around 10%. Shares of oil producers rose sharply, with ConocoPhillips gaining 6.5%.

Companies in fuel-dependent industries fell. American Airlines dropped 4.5% and Royal Caribbean Cruises slipped 2.7%.

The Dow Jones Industrial Average fell 88 points, or 0.3%, to 27,130. The index has risen for eight consecutive days.

The S&P 500 is down 8 points, or 0.3%, to 2,999. The Nasdaq fell 38 points, or 0.5%, to 8,137.

Bonds rose after a recent sell-off. The yield on the 10-year Treasury dropped to 1.86% from 1.90% Friday. That hurt bank stocks, with Citigroup dropping 1.2%.


Source link

Continue Reading
You may also like...

More in ECONOMIC NEWS

To Top
error: Content is protected !!