Dow Snaps Win Streak With Modest Loss
The Dow snapped a four-day win streak on Thursday, as Walmart's (WMT) grim forecast weighed on the blue-chip index. A wider-than-expected drop in import prices for October contributed to today's pessimism, while lackluster manufacturing data did little to ease concerns. Meanwhile, both the Nasdaq and S&P 500 settled just above breakeven, despite struggles for energy and tech stocks.
OIL PRICES PLUMMET AMID DEMAND FEARS
Oil prices extended their decline on Thursday, closing at their lowest level since July as traders worried energy demand would slow down after today's batch of economic data. December-dated West Texas Intermediate (WTI) crude fell $3.76, or 4.9%, to close at $72.90 a barrel for the day.
Meanwhile, gold prices settled higher, as Wall Street continued to bet on the end of the Federal Reserve's interest rate campaign. December-dated gold rose $22.30, or 1.1%, to close at $1,986.60 an ounce for the day.
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