US stocks close lower, post weekly losses

2019-07-19 22:11:08 GMT (Economies.com)
US stocks close lower, post weekly losses

US stocks fell at the end of the last session of the week on concerns about tensions in the Middle East, while the impact of market optimism about interest rate cuts faded. Wall Street recorded  the largest losses this week since the end of May.

 

US Fed's officials said that an action should be taken to counter the signs of the slowing economic growth, which markets see as a strong signal of a rate cut in the next meeting by the end of this month.

 

Concerns over the Middle East rose in the market after Iran announced that two British oil tankers are held in the Strait of Hormuz and are being taken to its territorial waters.

 

In the crude market, West Texas rose 0.6% to $55.63 per barrel, with a weekly loss of 7.6%, with the highest of today's trading at $56.3 and the lowest at $54.9.

 

Brent rose 0.9% to close at $62.48 per barrel, recording a weekly loss of 6.4%, with a high of $63.3 and a low of $61.8.

 

At the close of trading, Dow Jones fell 0.2% (equivalent to 68 points) to 27,154 points, with a weekly loss of 0.6%, the highest level of today's trading at 27,342 points and the lowest at 27,145 points.

 

Nasdaq fell 0.7% (60 points) to 8,145 points, and posted a weekly loss of 1.2%, with a high of 8,245 points and a low of 8,144 points.

 

S&P 500 fell 0.6% (18 points) to 2,976 points, and recorded a weekly loss of 1.2%, reaching the highest level at 3,006 points and the lowest at 2,975 points.

 
 
 
  Symbol Last Change Chg.%
1.1140
0.0042
0.3789%
1.2289
0.0135
1.1107%
17.418
0.314
1.834%
53.880
-0.920
1.679%
59.10
-0.82
1.37%
1526.175
13.910
0.920%
 
 
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Europe
 
Asia