Summary
NEW YORK - Investors sent stocks falling sharply for a second straight day Thursday as crude oil prices surged near $55 per barrel and General Motors Corp.'s earnings disappointed the market. The Dow Jones industrial average, having fallen 153 points over two days, dropped back below 10,000.
Crude oil futures continued a record-setting trend Thursday, with prices reaching $54.90 per barrel in intraday trading. While crude inventories rose more than expected, according to a government report, reserves of distillates such as heating oil dropped substantially. A barrel of light crude for November delivery closed at a record $54.76, up $1.12, on the New York Mercantile Exchange.See the full content of this document
Extract
Oil, Profit Fears Weigh On Stocks
"The biggest thing that would help the markets right now would be a sustained drop in crude oil, but I'm not holding my breath for that," said Lincoln ...
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