Wall Street settles flat to lower after OPEC deal

Market Reports | Markets 11/30/2016, 10:18 PM
Wall Street settles flat to lower after OPEC deal

Equities in the United States finished the session on Wednesday mostly down, as the upbeat sentiment which brought the Dow and the S&P 500 to intra-day record highs waned. Profit taking prevailed despite a strong rally in the oil sector, prompted when it became clearer the Organization of the Petroleum Exporting Countries was going to adopt the first market management measures in eight years.

The Dow Jones Industrials ticked just two points up, ending at 19,123.58, after a climb to 19,225.29. Goldman Sachs and DuPont led the gainers with jumps of 3.56% and 3.41%, respectively. Chevron added slightly more than 2%. The Nasdaq 100 lost 1.28%, settling at the daily low of 4,810.814 points. The S&P 500 retreated 0.27% to 2,198.81, following a rise to 2.214.1 in early trade.

The Dow booked a gain of 5.3% since the end of October, compared to the Nasdaq 100's move of 0.11% to positive territory. The broadest of the three gauges added 3.4% this month.

The dollar remained near the highest level against the yen since March 2, trading for 114.4 at 10:14 p.m. CET. The greenback's index was 0.55% higher than yesterday's settlement, at 101.52. Earlier today it reached 101.83. WTI oil was 8.67% up at $49.1 for one barrel and Brent crude leaped 8.87% to $50.45 per barrel (both 10:05 p.m. CET).

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