Fed minutes The broader market retreated from intra-days high on Wednesday after the Federal Reserve released minutes from its March meeting.
Oil prices pared some gains due to an increase in U.S. crude inventories and increase in U.S. oil production.
Initially, oil prices rose but later it fell after the U.S. government reported a weekly rise in crude inventories of 1.6 million barrels.
The minutes released by Fed showed that some measures of valuations, like price-to-earnings ratios, rose above historical norms.
However, oil prices pared some gains due to a surprise increase in U.S. crude inventories.
as mentioned in
Stock Market News for April 07, 2017
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as mentioned in
Stock Market News for April 03, 2017
However, U.S. oil prices recorded its worst quarterly loss of 5.7% since late 2015, pressured by oversupply of crude in the global market.
Oil prices rose on Friday amid OPEC’s attempt to control oil supply.
Meanwhile, U.S. oil prices finished slightly higheron Friday in spite of record increase in oil production, which eventually placed pressure on energy stocks.
Monthly RoundupFor the month, the Dow and S&P 500 declined by 0.7% and 0.8% respectively.
The S&P 500 fell 0.2% to close at 2,362.72.
collected by :Dicson Walt