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- U.S. Stocks Slip With Oil Around $43: Markets Wrap
U.S. Stocks Slip With Oil Around $43: Markets Wrap
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Loading...U.S. stocks retreated from all-time highs as crude oil slid to a 10-month low on concern the global supply glut will persist.
Тhe dollar rose as Fed officials continued to reiterate a moderately hawkish stance on monetary policy.
Oil and gas companies fell more than 1 percent to lead the S&P 500 Index lower.
The British pound weakened a second day as Bank of England Governor Mark Carney said he is still worried about the impact of Brexit on the economy.
The weakness in crude and other commodities dents arguments from American central bankers that weak inflation rates will be transitory, even as the economy shows few signs distress.
Here are the main moves in markets:
The S&P 500 fell 0.5 percent to 2,442.03.
The Dow Jones Industrial Average dropped 0.1 percent.
Тhe Nasdaq Composite Index declined 0.6 percent.
The Stoxx Europe 600 erased a gain to trade 0.7 percent lower.
The U.K.’s FTSE 100 Index declined 0.7 percent.
Currencies:
The Bloomberg Dollar Spot Index rose 0.3 percent.
The British pound fell 0.9 percent to $1.2621.
The euro was down 0.2 percent to $1.1124.
The yen gained 0.1 percent to 111.41 per dollar.
Commodities:
West Texas oil fell 2.8 percent to $42.98 a barrel.
Gold was essentially flat percent to $1,244.52 an ounce.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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