Dow falls more than 100 points, energy stocks drag the market | RYT9

The Dow falls more than 100 points as energy stocks lead the market. after oil prices fell heavily today

As of 11:28 pm Thai time, the Dow Jones Industrial Average was 33,642.41 points, down 103.28 points or 0.31%.

Crude oil futures fell sharply, WTI recently fell to $76, while Brent crude fell $84 after a report. The Organization of the Petroleum Exporting Countries (OPEC) is discussing an increase in production.

wall street newspaper Citing a source from the Organization of the Petroleum Exporting Countries (OPEC), the Journal reported that Saudi Arabia and OPEC members are discussing an output increase of 500,000 bpd at the OPEC Plus group’s production policy meeting on December 4.

The Wall Street Journal reported that OPEC is discussing the said increase in production. After US President Joe Biden told a US judge that Prince Muhammad bin Salman, Crown Prince of Saudi Arabia should be exempt from prosecution in the US in connection with the killing of Saudi journalist Jamal Khashoggi.

The report says that President Biden’s relaxed attitude has pleased Prince bin Salman and will reaffirm his status as the de facto leader of Saudi Arabia. After the lawsuit jeopardized the relationship between the United States and Saudi Arabia.

Previously, OPEC Plus had created discontent with the United States. After announcing an oil production cut of 2 million barrels per day at a meeting on October 5, which is the largest cut in OPEC Plus since 2020 and is a continuous cut in production for the 2nd month, although President Biden wants to increase production capacity Due to concerns of the rising oil prices will hurt the US government’s popularity rating.

In addition, oil prices have been weighed down by the appreciation of the dollar. and concerns that the surge in the number of COVID-19 cases in China will trigger lockdown measures. which will affect the demand for oil.

Walt Disney’s stock price jumped more than 8% today in response to Bob Iger’s return as CEO.

Disney said in a statement on Tuesday that it had reappointed Mr. Iger is chief executive officer. with immediate effect Following the announcement of Bob Chapek’s resignation

Mr Chapek succeeded Mr Eiger as CEO in February 2020. but he was criticized for various decisions under his administration. Share prices fell to a 20-year low following disappointing earnings releases.

Analysts expect Eiger’s return to boost investor confidence. Iger was Disney’s chief executive officer for 15 years, with his track record of acquiring Pixar, Lucasfilm and Marvel, all of which were multi-billion dollar assets for Disney.

Investors are keeping an eye on the minutes of the Federal Open Market Committee (FOMC) meeting for November 1-2, which will be released on Wednesday. to indicate the direction of Fed interest rates

Wall Street markets will be closed Thursday for Thanksgiving. And there will only be half a day of trading on Friday.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.