Market Watch: Oil Prices Tumble Again


U.S. stocks finished down slightly for the second day in a row, after oil prices struggled in early trading.

U.S. crude stockpiles grew by an astounding 7.7 million barrels last week, according to the American Petroleum Institute (API). This was more than expected and contributed to another drop in oil prices.

In Europe, Germany issued its rejection of Greece’s application for an extension on their bailout program. It’s the latest in a string of disappointments in the negotiations that have been ongoing for a few weeks.

In earnings news, Wal-Mart reported figures that beat estimates, and announced that close to 500,000 employees will receive pay raises in the near future. Lastly, weekly jobless claims came in at 283,000—slightly lower than expected.

Here are the final numbers from Wall Street on Thursday:

Dow Jones Industrial Average: 17,985.77 (-44.08)

NASDAQ: 4,924.70 (+18.34)

S&P 500: 2,097.45 (-2.23)

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


Phil Cannella a revolutionary thinker. Phil Cannella's cause is the Phil Cannella Crash Proof Retirement system. Phil Cannella has worked for decades.
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Phil Cannella

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