Oil's slide to lowest price of the year pulls stocks lower

Oil's slide to lowest price of the year pulls stocks lower

Prices for U.S. Treasury bonds edged higher, with the benchmark 10-year yield slipping 3 bps to 2.15%, its third lowest settlement of the year.

The Dow Jones Industrial Average fell 61.85 (-0.29 percent) to finish at 21,467.14.

ExxonMobil stock price fell 0.6 percent, while Chevron and ConocoPhillips shares lost 0.9 percent and 1.1 percent, respectively. Natural gas fell 1 cent to $2.89 per 1,000 cubic feet, heating oil fell 3 cents to $1.36 per gallon and wholesale gasoline fell 1 cent to $1.41 per gallon. The stocks market was under pressure as the energy sector dropped over 1.6 per cent.

Meanwhile, investors were still digesting the latest Federal Reserve officials' remarks. Technology listings were also higher, rising 0.7% as software stocks added support.

The officials' words came in less than a week after the Fed raised its interest rates for the fourth time since December 2015.

CHINA'S ARRIVAL: Chinese shares traded in Shanghai, which have always been hard for foreign investors to trade, rose 0.5 percent after index provider MSCI said it will include what are called "Chinese A-shares" in its widely followed Emerging Markets index.

The S&P 500 profited by 0.8 percent to reach record levels, while the information technology rose to 1.4 percent to lead advancers.

U.S. crude fell 2.99 per cent to $42.88 per barrel and Brent was last at $45.67, down 2.64 per cent.

England v South Africa Now Sold Out
South Africa made 174 for eight with JJ Smuts contributing 45 and skipper AB de Villiers striking 46 from 30 balls. He made 105 out of South Africa A's first innings of 283 against the England Lions in Canterbury on Thursday.

The Dow and benchmark S&P 500 had hit fresh records on Monday, buoyed by a rebound in the tech sector.

"We're in the warning area here, between $40 and $44", Kinahan said of the price of oil.

Chipotle warned marketing and promotion costs would rise in the second quarter, from the first quarter, and that, "as a result, we expect other operating costs as a percentage of sales for the second quarter to be at or slightly higher than reported for the first quarter".

GETTING ACTIVE: La-Z-Boy jumped $4.40, or 16.8 percent, to $30.60 after reporting quarterly earnings that easily topped analysts' expectations. Hong Kong's Hang Seng fell 0.3 percent to 25,843.04, while the Shanghai Composite fell 0.1 percent to 3,140.01.

Parexel International, a biopharmaceutical services provider, jumped $3.12, or 3.7 percent, to $87.04 after it said it will go private following a buyout by Pamplona Capital Management.

In Europe, the Stoxx 600 Index ended the session with a 0.7 percent decline from the previous close. The 10-year Treasury yield ticked up to 2.17 percent from 2.16 percent late Tuesday. On the Nasdaq, 1,948 issues fell and 862 advanced.

The Nasdaq is up 804.91 points, or 15 percent.

CURRENCIES: The dollar weakened to 111.25 yen from 111.46, while the euro was almost flat at $1.113.

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