Energy, Materials Stocks Slid On Commodity Slump
NEW YORK (AP) â¿¿ Energy and mining company stocks are sliding in midday trading as prices for crude oil and other commodities fall sharply.
The broader market also fell, but not as much.
The Dow Jones industrial average was down 46 points at 14,818 at midday Friday, a loss of 0.3 percent. In the first four days of the week the Dow had risen 300 points, or 2 percent.
The Standard & Poor's 500 fell nine points, or 0.6 percent, to 1,583. The Nasdaq fell 19 points, also 0.6 percent, to 3,280.Halliburton and other energy companies fell sharply as the price of crude oil dropped $2 to $91 a barrel. Miners including Barrick Gold and Newmont Mining fell as gold plunged below $1,500 an ounce, the lowest since July 2011.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV