Skip to main content

Midday Report: S&P 500's Record Run at Risk; Crude Oil Prices Slide, Drag on Wall Street

Another decline in crude oil prices threatened to end a seven-day winning streak for the S&P 500 and Nasdaq.

 Another decline in crude oil prices threatened to end a seven-day winning streak for the S&P 500 and Nasdaq. The two indexes closed at records on Friday, their second day of record closes in a row. Consumer confidence retreated in May as expectations for future economic conditions weakened. However, the overall mood remains optimistic and most anticipate growth over the summer months. BlackBerryundefined fell after Raymond James downgraded its rating on the stock to MARKET PERFORM from OUTPERFORM. Analysts said they are tapping the brakes after a hefty rise since the last ratings update in August. TiVo (TIVO) - Get TiVo Corp. Report jumped after a favorable ruling in a patent case against Comcast (CMCSA) - Get Comcast Corporation Class A Report . A judge gave an initial ruling that found Comcast, Arris and Technicolor had violated two of TiVo'S patents.

TheStreet Recommends