Market Watch: Energy Prices, Oil Back In Focus

shutterstock_238506628

U.S. stocks slid early on Friday, as investors returned their focus to energy prices.

Oil was down more than 1% in early trading, as word emerged of the passing of Saudi Arabia’s King Abdullah. No change in policy is expected, but uncertainty was enough to fuel concern on an already jittery Wall Street.

In terms of earnings reports, McDonald’s posted a 7.3% decline in quarterly sales. General Electric posted a revenue figures that just missed estimate, while UPS stock fell after warnings that their fourth-quarter profits would come in below expectations.

The U.S. dollar strengthened again against other global currencies, as declines in the Euro continued after the Thursday announcement of quantitative easing in the Euro Zone.

As of 1 p.m., here are the Friday numbers on Wall Street:

Dow Jones Industrial Average: 17,783.86 (-30.12)

NASDAQ: 4,764.97 (+14.57)

S&P 500: 2,061.37 (-1.78)

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

@phillipcannella

Phil Cannella a revolutionary thinker. Phil Cannella's cause is the Phil Cannella Crash Proof Retirement system. Phil Cannella has worked for decades.
Get the truth on how Wall Sts stacked against you, on The @CrashProofShow Sat at 10 AM on @1290wjno in FL, and 11 AM on @TalkRadio1210 in PA - 1 year ago
Phil Cannella
Phil Cannella

Leave a Reply

Your email address will not be published. Required fields are marked *