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US indices close lower but energy and oil sectors rise

  • Regular
  • US Market
  • 2 months ago
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US indices traded lower as the spike in oil prices weighed on investors sentiment that a global slowdown may just be imminent.

The Dow Jones halted its 8-day winning streak as it shed 0.5% to close on 27,076.82 points, however both Exxon Mobil and Chevron both rose by 1% as the energy sector gained 3.4%, its best day so far for 2019.

The S&P 500 gave up 0.3% to end the session at 2,997.96 points while the Nasdaq shed the same margin to close at 8,153.54 points.

Shares of General Motors fell by 4.3%, American Airlines tumbled by 7.3% while Devon energy shares saw a remarkable rise of 12% along with Marathon Oil whose shares surged by 11.6%.

 

 

Source: Smart Trend Team