As oil prices meet, stocks close down

The S&P 500 fell 0.4% in afternoon trading, while the Dow Jones industrial average fell 0.5%. The technologically advanced Nasdaq composition slipped 0.2%.

US oil futures are up 1.5% to $ 80.52 per barrel, the highest level since 2014. Brent crude, world oil prices, rose 1.5% to $ 83.65, the highest settlement price in three years.

In recent weeks, global natural gas prices have risen sharply, and some power plants are expected to switch from gas to oil as winter approaches. The rally on crude prices raised stocks such as the oil field-services giant Haliburton,

Whose share got 3.6%.

Meanwhile, the discovery of industrial metals has reduced mineral deposits. Freport-Macmoran rose 3.7%, making it one of the best performers in the S&P 500 on Monday. In New York, copper futures rose $ 2.37 in the first three weeks to 2.1%.

Shares rose in the morning as investors worried about inflation and slowdown. Inflation has become more volatile than expected, resulting in supply chain disruptions, labor shortages and high energy prices.

Meanwhile, post-epidemic recovery has slowed. Over the weekend, Goldman Sachs downgraded US growth forecasts for the fourth quarter of next year and next year, citing the impact of consumer spending, such as Vivid19, and the government’s downturn in the economy.

“We are seeing a fall in growth and inflation,” said Chris Seneck, chief investment strategist at Wolf Research.

Investors are also looking forward to their third quarter earnings starting this week. Corporate revenues can shed light on how companies are affected, while corporate income and profit estimates show how optimistic executives are about growth and consumer spending.

No big income on Monday. Companies preparing to report over the weekend include Delta Airlines, Domino’s Pizza and Jepimorgan Chase.

The S&P 500 is down about 3.5% from early September. Shares have been volatile in recent weeks.

“I would be more concerned if there were no savings in the epidemic,” said Mike Bell, a global market strategist at JP Morgan Property Management Management. “It is winter. In cases and in hospitals, I don’t think anyone knows if that led to another transfer.

Following an estimated 1,900 flight cancers over the weekend, Southwest Airlines lost 3.4% of its individual shares to hundreds of flights. Severe weather and air traffic control issues in Florida have led to disturbances.

U.S. bond markets closed Monday for federal holidays.

Bitcoin added with recent gains, rising 6.5% to $ 57,480 as of 5 pm ET on Friday. The Securities and Exchange Commission is expected to approve a bitcoin exchange-funded fund in the coming weeks, which could increase the number of companies that may be exposed to cryptography.

The bitcoin meeting increased the share of crypto-exchange operator Coinbase Global by 4%.

Abroad, the Pan-Continent Stoke Europe registered 600 less than 0.1%. The British FTSE 100 jumped 0.7%, driven by energy and mining companies.

In Asia, stocks are mixed. Hong Kong’s Hang Sung rose by about 2%, while Japan’s NikeK 225 index rose 1.6%. In mainland China, the Shanghai benchmark was approximately flat.

According to one strategist, the energy sector may have a lot to collect due to commodity inflation.


Justin Sullivan / Getty Images

Write to caitlin Ostroff at and Alexander Osipovich

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