Oil Funds decrease on Wall Street

Friday at the end of a half trading day US stocks showed a mixed picture. Wall street’s oil funds were under severe pressure due to the lower oil prices.world oil 615 150x100 Oil Funds decrease on Wall Street

The Dow Jones Index, in which the thirty largest US listed companies are listed, ended unchanged at 17828.24 points. The S&P 500 fell 0.3 percent to 2067.56 points, while the technology barometer Nasdaq increased 0.1 percent to 4791.63 points.

 

Oil

US oil prices dropped further after the oil cartel OPEC decided not to limit oil production. A barrel of US crude oil decreased 9 percent to $ 67.09. Brent oil lost 2.4 percent to $ 70.86 per barrel.

 

Oil producers

Oil producers like Exxon Mobil and Chevron noted respectively 4.2 and 5.4 percent lower. Also oil and gas industry service providers struggled. Halliburton lost nearly 11 percent, Baker Hughes was down 8.9 percent and Schlumberger yielded 7.4 percent.

 

Airlines

US airlines were just on the rise because they have lower fuel costs. American Airlines reported a capital gain of 7.9 percent, Delta Air Lines climbed 5.5 percent and Southwest Airlines went up 6.5 percent.

 

Retail

Friday is Black Friday in the United States, the beginning of the buying season for the holidays. Retailers were higher on expectations that US consumers will spend a record amount this year. Wal-Mart had a plus figure of 3 percent, retailer JC Penney gained 3.3 percent and Macy’s rose 2.2 percent.

Courier companies also have seen an uptrend because they significantly benefitted from the increase in online orders. UPS recorded a plus of 2.8 percent and FedEx rose 1.8 percent. Internet Merchant Amazon won 1.5 percent.

 

Euro

The euro was worth 1.2434 dollars against 1.2441 dollars at the end of the European trading day.