Markets Right Now: Energy stocks lead market indexes lower - InfoNews

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Markets Right Now: Energy stocks lead market indexes lower

November 27, 2017 - 1:07 PM

The latest on developments in financial markets (All times local):

4 p.m.

A slide in crude oil prices weighed on energy companies, pulling U.S. stock indexes mostly lower on Wall Street.

Marathon Oil slumped 4.3 per cent and Newfield Exploration lost 3.3 per cent.

Industrial companies and utilities rose, while retailers posted solid gains on reports the holiday shopping season is off to a strong start.

Time rose almost 10 per cent after agreeing to be acquired by Meredith, which owns TV stations and magazines including Better Homes & Gardens. Meredith rose 11 per cent.

The Standard & Poor's 500 index fell 1 point to 2,601.

The Dow Jones industrial average edged up 22 points, or 0.1 per cent, to 23,580. The Nasdaq composite fell 10 points, or 0.2 per cent, to 6,878.

More stocks fell than rose on the New York Stock Exchange.

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11:45 a.m.

U.S. stock indexes edged mostly lower in midday trading as traders returned from the Thanksgiving holiday.

Energy stocks were the biggest laggard Monday as crude oil prices headed lower. Devon Energy slumped 3 per cent.

Technology stocks also fell. Micron Technology gave up 4.5 per cent.

Retailers posted solid gains on reports the holiday shopping season is off to a strong start.

Time Inc. rose 9 per cent after agreeing to be acquired by Meredith, which owns TV stations and magazines including Better Homes & Gardens. Meredith rose 8 per cent.

The Standard & Poor's 500 index fell a fraction of a point to 2,601.

The Dow Jones industrial average was up 26 points, or 0.1 per cent, to 23,584. The Nasdaq composite fell 11 points, or 0.2 per cent, to 6,878.

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9:35 a.m.

Stock indexes are little changed in the early going on Wall Street as traders return from the Thanksgiving holiday.

Several companies were moving on deal news early Monday.

Magazine publisher Time Inc. was up 9 per cent after agreeing to be acquired by Meredith, which owns TV stations and magazines including Better Homes & Gardens. Meredith rose 10 per cent.

Cloud-based security company Barracuda Networks jumped 16 per cent after agreeing to be taken private.

The Standard & Poor's 500 index was little changed at 2,603.

The Dow Jones industrial average slipped 2 points to 23,554. The Nasdaq fell 4 points, less than 0.1 per cent, to 6,885.

News from © The Associated Press, 2017
The Associated Press

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