Stocks mixed as oil hits 7-year high

Stocks mixed as oil hits 7-year high

U.S. stock indexes were mixed Monday as oil prices ticked to seven-year highs and industrial production slowed.

The Dow Jones Industrial Average fell 36 points, or 0.1%, while the S&P 500 index and the Nasdaq Composite index advanced 0.34% and 0.84%, respectively.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35258.61 -36.15 -0.10%
SP500 S&P 500 4486.46 +15.09 +0.34%
I:COMP NASDAQ COMPOSITE INDEX 15021.809088 +124.47 +0.84%

Industrial production fell 1.3% in September, missing the 0.2% gain that was expected. The August print was revised lower to a 0.1% contraction from a previous reading of 0.4% growth.

Elsewhere, the Chinese economy grew at a 4.9% pace in July through September from a year earlier, down from 7.9% in the previous quarter, as ongoing supply bottlenecks and the Evergrande debt crisis weighed on confidence. Economists surveyed by Refinitiv were expecting 5.2% growth.

In stocks, oil companies, including Chevron Corp. and Diamondback Energy Inc., were in focus as West Texas Intermediate crude oil touched a seven-year high of $83.87 before paring its gains and finishing up 16 cents at $82.44 a barrel.

Ticker Security Last Change Change %
CVX CHEVRON CORP. 109.56 -0.05 -0.05%
FANG DIAMONDBACK ENERGY, INC. 109.26 +0.98 +0.91%

Meanwhile, financials were in focus as the yield on the 10-year Treasury note rose 1 basis point to 1.58%, holding near a four-month high…Read more>>

Source:-foxbusiness

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