US stock indexes open mixed as benchmark crude falls; airlines up but energy shares fall
NEW YORK, N.Y. – U.S. stocks are opening mixed as tumbling oil prices weigh on energy shares but give a lift to airlines and delivery companies.
The Dow Jones industrial average rose 18 points, or 0.1 per cent, to 17,845 as of 9:35 a.m. Eastern time Friday. The Nasdaq climbed seven points, or 0.1 per cent, to 4,793.
The Standard & Poor’s 500 index eased four points, or 0.2 per cent, to 2,068.
Market players were focused on Thursday’s decision by the OPEC oil cartel to keep crude production at 30 million barrels a day despite global oversupply. The move hit oil prices as traders anticipated supply levels at their current rates at least for a few months yet.
Benchmark U.S. oil slid 6 per cent to $69.41.
U.S. stock markets will be closed at 1 p.m. Friday.
News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community? Create a free account to comment on stories, ask questions, and join meaningful discussions on our new site.
Leave a Reply
You must be logged in to post a comment.