The second day of the trading week saw the NASDAQ post its first 4-day losing streak since January as the tech index closed in the red for the year. The day was also highlighted by a big jump in the cost of oil. The price of a barrel of crude spiked 3.3% up $1.44 to close just above $44/barrel. Oil companies have lost $67 billion dollars since oil prices started collapsing nearly 2 years ago according to the Oil Information Administration. See more below.
The Federal Open Market Committee began its two-day meeting today and is expected to release its statement on monetary policy tomorrow afternoon. No move on interest rates is expected but investors will be searching for any clues as to when the Fed might raise rates again.
Here are the final numbers from Tuesday, 4/26/16 on Wall Street:
Dow Jones Industrial Average: 17,990.32 (+13.08 / +0.07 %)
NASDAQ: 4,888.31 (-7.48 / -0.15 %)
S&P 500: 2,091.70 (+3.91 +0.19%)