NEW YORK (AP) — It’s been another day of big losses for energy stocks as oil prices continue their slump. Disappointing financial reports from a range of companies also soured the mood on Wall Street. The S& P 500 fell 5.71 points to 2,012, while the Nasdaq composite dropped 15 to 4,623. The Dow bucked the trend, however, edging up a little more than 17 points to 17,383.
NEW YORK (AP) — Oil has been falling sharply in recent weeks as global supplies rise and demand for fuel trails expectations. Benchmark U.S. crude fell $1.59 on the New York Mercantile Exchange today, closing at $77.19. The latest decline was prompted by reports that Saudi Arabia is cutting the price of oil that it supplies to the U.S. in an attempt to maintain its market share as U.S. production booms.
NEW YORK (AP) — Energy stocks are suffering, but analysts and investors are predicting the U.S. economy will benefit in the long run from falling oil prices. Airlines are among the winners today. Fuel is their single largest operating cost and lower prices should mean higher profits if demand for air travel stays strong. Delta Airlines shares surged $1.71, or 4.2 percent, to $42.32. United Continental, Jet Blue and Southwest Airlines also logged big gains.
NEW YORK (AP) — Earnings outlooks from a number of companies have been weighing on the market. Michael Kors took the biggest drop in the S&P 500 today. The maker of luxury handbags, shoes and other accessories saw its stock fall more than 8 percent, losing $6.57 to close at $71.42. Priceline also slumped more than 8 percent. The online travel booking company dropped $100.82 to $1,097.70.
NEW YORK (AP) — Harper Lee had been one of the last major authors to withhold electronic rights to her works. But the e-book for her only novel, “To Kill a Mockingbird,” came out in July and now HarperCollins is releasing an “enhanced” version of it. Oprah Winfrey and Tom Brokaw are among the featured commentators, and there’s also a 1964 radio interview with Lee, who rarely speaks to the media.
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