Energy stocks weigh on S&P 500 on slower China growth

The energy shares were among the weakest in the S&P 500 Monday, weighing on the large cap index, amid concerns about depressed demand for oil from China. The Chinese government said third-quarter economic growth came in at 6.9%, the slowest since the financial crisis, sparking worries about the impact on the oil market. The S&P 500 energy sector fell 2% as Pioneer Natural Resources Co. , Murphy Oil Corp. and Transocean Ltd. all dropped more than 4%. November West Texas Intermediate crude slid 1.8% to $46.39 a barrel while the S&P 500 edged up 1 point to 2,034.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply

Energy stocks weigh on S&P 500 on slower China growth

The energy shares were among the weakest in the S&P 500 Monday, weighing on the large cap index, amid concerns about depressed demand for oil from China. The Chinese government said third-quarter economic growth came in at 6.9%, the slowest since the financial crisis, sparking worries about the impact on the oil market. The S&P 500 energy sector fell 2% as Pioneer Natural Resources Co. , Murphy Oil Corp. and Transocean Ltd. all dropped more than 4%. November West Texas Intermediate crude slid 1.8% to $46.39 a barrel while the S&P 500 edged up 1 point to 2,034.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply