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Markets at the moment: Oil prices, energy companies are falling sharply



Updated on August 4, Friday, May 25, 2018



NEW YORK (AP) – The latest developments in the financial markets (always local):

16:00

Energy companies and oil prices took their worst losses in the Months after reports that OPEC countries will soon produce more oil.

Friday's declines left most major US market indices largely at the end of an indefinite week.

US crude oil fell 4 percent after several reports indicated that Russia and OPEC could produce more crude oil. Chevron lost 3.5 percent, Exxon Mobil was 1.9 percent.




Gap plunged 14.6 percent after a weak first quarter.

The S & P 500 Index fell 6 points or 0.2 percent to 2721.

The Dow Jones's industrial average lost 58 points, or 0.2 percent, to 24,753. The Nasdaq composite rose 9 points or 0.1 percent to 7,433.

Bond prices rose. The 10-year Treasury yield fell to 2.93 percent.

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11:45

Stocks tend to be lower as energy companies report falls. The OPEC countries are planning to produce more oil soon.

Chevron lost 3.8 percent on Friday and Exxon Mobil dropped 2.4 percent

Airlines climbed as investors reckoned with lower fuel costs. Alaska Air rose 4.3 percent and delta 2.6 percent.

Falling bond yields weighed on banks, even though they help dividend carriers such as home appliance manufacturers.

Gap plunged 13.6 percent after a weak first quarter The brand continued to struggle.

The S & P 500 Index fell 4 points or 0.2 percent to 2,723.

The Dow Jones Industrial Average lost 34 points, or 0.1 percent, to 24,777. The Nasdaq composite rose 22 points or 0.3 percent to 7,447.

Bond prices rose. The 10-year Treasury yield fell to 2.93 percent.

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9:35

Stock markets are opening slightly lower on Wall Street as energy companies drop along with crude oil prices

Chevron lost 2.3 percent early Friday and Exxon Mobil was 1 , 9 percent up.

That came when the price of US crude fell 2.7 percent to $ 68.74 a barrel. Oil fell on reports that OPEC and Russia could soon produce more oil.

Gap slipped 10.2 percent after analysts' estimates lag behind analysts as sales in their flagship stores fell

The S & P 500 Index fell 6 points or 0.2 percent to 2,720

19659009] The Dow Jones Industrial Average lost 70 points or 0.3 percent to 24,739. The Nasdaq composite fell 3 points or 0.1 percent to 7,420.

Bond prices rose. The 10-year Treasury yield fell to 2.94 percent.


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