Coinciding with the start of the DNC in Philadelphia, stocks kicked off the week on a down note as oil prices slid. The price of a barrel of oil closed at its lowest level since April 25th over worries over a global “over-supply.” U.S. crude settled down $1.06, or 2.4 percent, at $43.13 a barrel. The biggest losers were energy stocks as investors look ahead to major earnings reports and the upcoming Fed meeting on interest rates. The U.S. Federal Reserve is scheduled to conclude its two-day meeting Wednesday afternoon.
Meantime, one of Wall Street’s largest firms sent a clear message to investors that there could be trouble brewing in this current stock rally as so-called “safe havens” are becoming danger zones. Watch below.
Here are the final numbers from Monday, July 25th on Wall Street:
Dow Jones Industrial Average: 18,493.06 (-77.79 / -0.42%)
NASDAQ: 5,097.63 (-2.53 / -.05%)
S&P 500: 2,168.49 (-6.54/ -0.30%)