Stocks fell the day before Thanksgiving, as traders took profits from technology stocks after the latest PCE reading rose on the month and an annual basis. The Dow and Nasdaq both tumbled triple digits, the former snapping a five-day losing streak. Meanwhile, the S&P 500 logged a drop for the first time in seven days. Investors will return to work on Black Friday, though the market will close at 1 p.m. ET.
OIL PRICES SLIP AS INVESTORS SHIFT FOCUS
Oil futures went back and forth before settling slightly lower, as the ceasefire in the Middle East pushed trader focus to the Organization of the Petroleum Exporting Countries and its allies (OPEC+). In addition, US. inventory data showed a smaller-than-expected weekly fall in domestic crude inventories. For the session, January-dated West Texas Intermediate (WTI) crude slid 5 cents, or under 0.1%, to settle at $68.72 per barrel.Today’s inflation data helped bullion rebound from a more than one-week low. Gold for December delivery was last seen 0.7% higher near $2,644.00 an ounce.More By This Author:S&P 500, Nasdaq Set To Snap Win Streaks As Tech Cools
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