Oil Slides, Stock Futures Hover Near Record Highs
- Date: 09-Aug-2021
- Source: The Wall Street Journal
- Sector:Financial Markets
- Country:Gulf
Oil Slides, Stock Futures Hover Near Record Highs
U.S. stock futures hovered close to record highs, but a tumble in oil prices and a brief slump in gold and silver prices signaled investor unease about the strength of the economic recovery.
Futures tied to the S&P 500 edged down 0.2% early Monday, after the broad-market index notched a record on Friday. Dow Jones Industrial Average futures also ticked down 0.2%. Nasdaq-100 futures were relatively flat, wavering between small gains and losses.
Global oil benchmark Brent crude dropped 3.3% to $68.35, putting it on track for its lowest settlement price since mid-July. An outbreak of Covid-19 in China renewed concerns about another hit to demand from the virus, traders said.
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