Stock Market Update
08-Jan-25 11:05 ET
Commodity prices move higher, stocks move lower
Dow -32.30
at 42496.06,
Nasdaq -48.09
at 19441.58,
S&P -7.48
at 5901.55
[BRIEFING.COM] The major indices remain below prior closing levels.
Earlier, the weekly EIA crude oil inventories showed a draw of 1.18 million barrels following last week's draw of 959,000 barrels. WTI crude oil futures are 0.1% lower than yesterday's settlement at $74.19/bbl.
Other commodity futures are moving up today. Copper futures are 1.4% higher at $4.25/lbs, natural gas futures are 4.4% higher at $3.17/mmbtu, and gold futures are 0.6% higher at $2,681.30/ozt.
The S&P 500 energy sector, which is responsive to changes in natural gas and oil prices, trades 0.2% lower. Exxon Mobil (XOM) underperforms the broader equity market after providing a summary of items it believes will impact Q4 results.
