Friday
December 15, 2017
Friday, April 15, 2016

Energy shares, Apple weigh on Wall Street

Wall Street slipped on Friday as oil price declines weighed on energy shares and Apple dragged on the market, but major indexes were still poised to post weekly gains.

Energy was the worst performing sector, falling 1.1 percent in afternoon trade. Oil prices fell about 2 percent as traders and analysts anticipate a weekend meeting of major oil exporters will do little to clear global oversupply quickly.

The Dow Jones industrial average was down 52.36 points, or 0.29 percent, to 17,874.07, the S&P 500 lost 5.62 points, or 0.27 percent, to 2,077.16 and the Nasdaq Composite dropped 17.62 points, or 0.36 percent, to 4,928.26.

European shares fell with French car parts maker Faurecia leading automakers down, although a key regional index still ended the week with its best performance in two months.

The STOXX Europe 600 Automobiles and Parts index tumbled 1.7 percent, the top sectoral decliner, as Faurecia shares retreated 3.6 percent after the company said its quarterly sales in China had dropped.

The pan-European FTSEurofirst 300 index slid 0.3 percent, but still managed to advance an overall 3.5 percent this week to mark its best weekly performance since mid-February.

 

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Tags:  US  stock market  Europe  Nikkei  





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