Saturday , December 4 2021

Brent falls to below $ 60: oil price decline stunned Wall Street mood



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Economy


Wall Street closes on Thanksgiving break.

Wall Street closes on Thanksgiving break.(Photo: picture alliance / dpa)

Friday, November 23, 2018

The US exchanges end the last trading day of the week with losses. The dramatic decline in oil prices is the economic crisis. On the loser side, the shares of the energy sector are once again found.

Falling oil prices have blocked exchange rate losses on the US stock market for weekly closing. Especially, shares of energy companies were under pressure. On the mood, continued trade between the US and China continued. "If we get cleared of any of these issues, oil prices, trade war with China, and the federal Federal Reserve's monetary policy could bring us a bit of interest that investors are back in the market," said Meil ​​Massa, trader Asset Management Maulife Asset Management.

The Dow-Jones index of default values ​​was 0.7 percent lower in the shortened trading at 24.286 points. The broader S & P 500 yielded 0.7 percent to 2633 meters. The index of Nasdaq's technology index lost 0.5 percent to 6939 points. On weekdays, the S & P dropped by 3.8 percent. He has now recorded more than ten percent lower than two months ago. Dow lost 4.4 percent since the start of the week, the Nasdaq index was 4.3 percent. This is the biggest weekly loss since March. In Frankfurt, however, the Dax was 0.5 per cent higher at 11,192 meters from trading.

In the coming week US President Donald Trump and his Chinese colleague Xi Jinping meet at the G20 Summit in Buenos Aires. Lastly, there was little evidence that the dispute between the two countries could be relaxed. For example, the Wall Street Journal reported that the US government wants to move mobile telephony operators in other countries to forgo security on smartphones and other products from the Chinese manufacturer Huawei.

Energy values ​​such as Exxon and Chevron each were about three percent. At the commodity market, the Brent oil from the North Sea cost $ 59.24 per barrel (159 liters) over five percent less, and thus has been as cheap as it has been for more than a year. The reason for the price slip was speculation on cooling the global economy, among others because of the customs dispute between the US and China. At the same time, the supply rates in the US are increasingly attracting new record highs.

0.46 billion shares change owners

Also in focus were retail stocks. In the United States, the day of the Thanksgiving holiday – the "Black Friday" – is considered to be the most ripe day of the year and the start of the Christmas business. Many shops and online shops offer special offers. Walmart papers won almost one percent. The Amazon sharehouses showed, by contrast, almost one percent.

At the New York Stock Exchange, around 0.46 billion shares changed the owner. 1437 values ​​went up, and in 1959, after 238 and remained unchanged. At Nasdaq, revenues of 0.94 billion shares were 1595 plus, 1358 in minus and 215 unchanged. The ten-year government bonds rose to 100-21 / 32 in the US credit markets. They rented at 3.048 percent. The 30-year bonds climbed to 101-8 / 32 and had a return of 3,308 percent.

Source: n-tv.de

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