| Member Info | | Status: | Offline | | Joined: | | | Gender: |
N/A | | Age: | | | Posts: | 26 | | Location: | USA
| | Reputation: | 0% |
| | Business news today for the stock market. (4th Jan 23 at 8:55am UTC) | |
The US newswire press release stock market is set to open with higher prices after a strong rally on Wednesday.
Stocks set to slip at open as oil takes a breather on Business News Today:
It’s a tale of two markets today, as oil takes a breather and the stock market plummets.
The S&P 500 ended down 0.4% at 2:29 p.m., after falling as much as 1.2% earlier in the day. The Dow Jones Industrial Average fell 0.2%, while Nasdaq Composite was off by 0.3%.
Oil prices have been on an upward trend over the past month or so due to growth in demand from emerging markets like China and India but also geopolitical tensions between Russia, Turkey and Iran that have resulted in higher oil prices because they make it more expensive for those countries to import crude oil from other nations such as Saudi Arabia (which doesn't have enough capacity to meet demand). However, recent news release reports have indicated that producers may be able to increase output soon because their facilities are currently operating at full capacity; this could lead them into oversupply levels which would cause prices to fall again once buyers start seeking out cheaper sources of energy elsewhere
Oil prices settle lower, ending 4-day win streak:
Oil prices ended lower on Monday, ending a four-day win streak that had lifted them to the highest level in more than two years. The U.S. benchmark was down 1% to $78.96 a barrel at 1:21 p.m., while Brent crude fell 0.6% to $79.22 by 1:04 pm in London time (12:54 am ET). The UEA Oil Price Index, which tracks spot and forward prices for oil products, was up about 2% since markets closed on Friday but then fell almost 3% over the course of Monday trading as investors began unwinding bets on higher prices ahead of this week's meeting between OPEC members and Russia to discuss their issue press release cuts agreement from December 2017 year-end deadline that expired last month without an extension agreed upon by all parties involved including Saudi Arabia, Iran and others who have been exempt from participating under certain conditions outlined earlier this year due to technical reasons related mainly around how much time remains available before hitting levels required under previous agreements reached during springtime months when demand peaked due largely due higher pricing landscape due lower supply volumes which increased demand throughout entire yearlong period leading into summer months where global economy showed signs signs of recovery thanks largely thanks central banks' efforts managing fiscal policy levers. | |
PR Newswire's news distribution, targeting, monitoring and marketing solutions help you connect and engage with target audiences across the globe.
|
|
:: 
:: 
:: 
:: 
