21 Jul 2016
Stocks retreat as oil and sentiment slides
Second-quarter results came in mixed on Wall Street this Thursday, but oil was the driver in the stock market, falling over 2% with a low of $44.50 while dollar and yields also dropped with gold rallying, despite the Federal Open Market Committee meeting next week and a subsequent move higher in the Fed funds futures as some investors' rate hike expectations increase.
U.S. stocks closed lower and broke the Dow's nine-day winning streak.
Goldman Sachs led the Dow down and McDonald's had the most positive impact.
The S&P 500 fell and closed slightly lower with very little positive in the index apart from health care and utilities
The Nasdaq fell 16 points.