Major U.S. stock-indexes in negative area after two-day rally on Monday as retreating crude oil prices weighed on materials and energy stocks. Crude prices resumed their slide, after a strong two-day run, as a record output from Iraq flooded a heavily oversupplied market. American stocks logged their first week of gains in the year last week, with the three indexes closing up 2% on Friday. Investors, already rattled by the volatile start to the year and a steep fall in oil prices, are awaiting U.S. GDP data on Friday for a reading on the health of the economy.
Most of Dow stocks in negative area (19 of 30). Top looser - Caterpillar Inc. (CAT, -4,07%). Top gainer - McDonald's Corp. (MCD, 1,22%).
All S&P sectors also in negative area. Top looser - Basic Materials (-1,9%).
At the moment:
Dow 15906.00 -98.00 -0.61%
S&P 500 1884.50 -14.75 -0.78%
Nasdaq 100 4229.00 -18.50 -0.44%
Oil 30.47 -1.72 -5.34%
Gold 1108.30 12.00 1.09%
U.S. 10yr 2.02 -0.03