Wednesday, 31 May 2017

Wall Street slips as energy, financials lose ground >> Ripples Advisory Private Limited, Indore (9644405056)

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US stocks inched lower on Tuesday, with the S&P 500 retreating slightly from a record, as weakness in the energy and financial sectors outweighed gains in technology shares.

Oil prices fell to keep U.S. crude below the $50 a barrel mark on concerns output cuts by the world's big exporters may not be sufficient to lessen a global glut and signs of resurgent output in Libya.

The energy sector's 1.31 percent fall made it the worst performer among the major S&P 500 sectors. Exxon was down 0.6 percent.

Financial stocks, down 0.8 percent, also supplied some downward pressure. JPMorgan fell 1.7 percent and Bank of America lost 1.4 percent as the two biggest drags on the S&P 500.

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