Oil prices slip solidly, keeping stocks in check
However, financial shares rallied after upbeat news from Bank of America and Deutsche Bank
New York — Oil prices dropped 3% on Monday, putting pressure on energy shares and keeping global stock markets in check, although financial shares rallied after upbeat news from Bank of America and Deutsche Bank. In oil markets, concerns about supply disruptions eased and Libyan ports reopened while traders eyed potential supply increases by Russia and other producers. US crude fell 4.03% to $68.15 per barrel and Brent was last at $72.11, down 4.27% on the day. Wall Street’s main indices were little changed following strong weeks as investors geared up for a big week of corporate earnings and awaited commentary on the effect of trade disputes between the US and its partners. "Trade and trade rhetoric will be a focus of the market," said Mona Mahajan, US investment strategist at Allianz Global Investors in New York. "As we get into earnings season in particular we are going to be watching for management teams to discuss their outlooks not only in the numbers but more generally anecdo...
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