Oil prices remained under pressure on worries about oversupply and weak global demand, but gold bucked the trend although by not enough to see the precious metal avoid its longest weekly losing streak since 1999.
U.S. stocks slipped slightly Monday, as the price of oil continued to fall, weighing on stocks, and as investors scoured economic reports for clues on the pace of growth.
The Dow Jones industrial average fell 91.46 points, or 0.52 per cent, to 17,598.4, the S&P 500 lost 5.86 points, or 0.28 per cent, to 2,097.98 and the Nasdaq Composite dropped 12.90 points, or 0.25 per cent, to 5,115.38.
The S&P 500 slipped 11 points, or 0.5%, to 2117, while the Nasdaq Composite shed 16 points, or 0.3%, to 5203. “Some days we’ll be up because of good earnings and some we’ll be down because of bad earnings”. China was supposed to pick up the slack, but...
The market extended losses in late trade, with poor U.S. earnings from the likes of IBM putting pressure on Wall Street and a strengthening euro hitting Europe’s exporters.
“Wonder if tomorrow is going to be bad for Wall Street….” “In my business, you don’t love coincidences, but it does appear that there is NOT a cyber intrusion involved”.