Stocks Close Sharply Lower After Failed Recovery Attempt – U.S. Commentary

Stocks Close Sharply Lower After Failed Recovery Attempt – U.S. Commentary
After ending the previous session roughly flat, stocks moved sharply lower over the course of the trading day on Thursday. The major averages attempted a recovery after seeing early weakness but saw a significant pullback as the day progressed. The major averages ended the day firmly in negative territory. The Dow tumbled 327.23 points or 1.3 percent to 25,379.54, the... Read More

U.S. oil benchmark settles sharply lower, tallies a two-session loss of 4.5%

U.S. oil benchmark settles sharply lower, tallies a two-session loss of 4.5%
By Markets/commodities reporter The U.S. oil benchmark settled sharply lower on Thursday to tally a loss of 4.5% over the two sessions on the heels of a fourth weekly climb in U.S. crude inventories. The Energy Information Administration reported Wednesday that domestic crude supplies rose by 6.5 million barrels, more than three times more than expected. November West Texas Intermediate... Read More

Energy, IT Stocks Drag TSX Lower

Energy, IT Stocks Drag TSX Lower
The Canadian stock market ended modestly lower on Wednesday, after trading in negative territory right through the session, weighed down by lower commodity prices and largely sluggish U.S. and European markets. Information technology, energy and healthcare stocks were among the prominent losers. Industrial and materials stocks too were mostly weak. Financial stocks found modest support, while consumer discretionary and real... Read More

Stocks Close Roughly Flat After Recovering From Early Weakness – U.S. Commentary

Stocks Close Roughly Flat After Recovering From Early Weakness – U.S. Commentary
After recovering from an early move to the downside, stocks showed a lack of direction over the course of afternoon trading on Wednesday. The major averages spent the afternoon bouncing back and forth across the unchanged line. The major averages eventually ended the day in negative territory. While the Dow fell 91.74 points or 0.4 percent to 25,706.68, the Nasdaq... Read More

Major Averages Climb Well Off Lows But Remain In The Red – U.S. Commentary

Major Averages Climb Well Off Lows But Remain In The Red – U.S. Commentary
After coming under pressure early in the session, stocks have regained some ground over the course of the trading day on Wednesday. The major averages have climbed well off their lows of the session but remain in negative territory. In recent trading, the major averages have pulled back off their recovery highs. The Dow is down 103.86 points or 0.4... Read More

EIA reports a fourth straight weekly rise in U.S. crude supplies

EIA reports a fourth straight weekly rise in U.S. crude supplies
By Markets/commodities reporter The Energy Information Administration reported Wednesday that domestic crude supplies rose by 6.5 million barrels for the week ended Oct. 12. That followed three consecutive weeks of gains. Analysts surveyed by S&P Global Platts had forecast a rise of 1.88 million barrels, while the American Petroleum Institute on Tuesday reported a decline of 2.1 million barrels, according... Read More

Profit Taking May Lead To Pullback On Wall Street

Profit Taking May Lead To Pullback On Wall Street
The major U.S. index futures are pointing to a lower opening on Wednesday, with stocks likely to give back ground after moving sharply higher in the previous session. Profit taking may contribute to initial weakness on Wall Street, as traders cash in on yesterday’s gains amid lingering uncertainty about the near-term outlook for the markets. A negative reaction to the... Read More