Inventories trade cautiously after surging oil in markets



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Stocks moderately hit after Saudi oil attack

Kathryn Rooney Vera of Bulltick Capital Markets explains why the United States should not worry excessively about the recent oil explosion. Vera says that other foreign players, such as China, will be much more affected.

US stocks announce a lower opening, which adds to the losses suffered by the shares at the beginning of the week.

Dow Industrial and S & P 500 futures are down 0.1%, while Nasdaq futures are down 0.2%.

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An attack on Saudi Arabia's largest oil processing plant caused crude oil prices to rise, resulting in the sale of airlines and other fuel-dependent industries.

US and international benchmarks for crude oil edged down after hitting 14% on Monday.

On Wall Street, the Dow Jones Industrial Average fell 0.5%, breaking a series of eight consecutive gains. The S & P 500 lost 0.3%, its biggest drop in two weeks. Nasdaq lost 0.3%.

Teleprinter security Latest Change % Chg
I: DJI DOW JONES MEANS 27076.82 -142.70 -0.52%
SP500 S & P 500 2997.96 -9.43 -0.31%
I: COMP COMPOUND INDEX NASDAQ 8153.542864 -23.17 -0.28%

General Motors fell 4.3% after more than 49,000 members of United Auto Workers went on strike. It was not clear how long the strike would last.

Teleprinter security Latest Change % Chg
GM GENERAL MOTORS COMPANY 37.21 -1.65 -4.25%

The main event of the week is the meeting of the Federal Reserve on interest rates. Investors are confident that the central bank will reduce short-term rates by a quarter of a point, in a range of 1.75% to 2%.

This would be the second such reduction in two months as the Fed tried to protect the economy from the global slowdown and the consequences of the US-China trade war.

The meeting starts on Tuesday and ends with the rate decision on Wednesday.

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Japan's Nikkei ended the day up 0.1% for a tenth consecutive day of gains. The Shanghai Composite Index closed down 1.7%. Hang Seng, of Hong Kong, ended the day down 1.2% after the rating agency Moody's downgraded the city. Fitch Rating did it earlier. Hong Kong Executive Director Carrie Lam said the degradation was "disappointing".

In European trading, the London FTSE added 0.1%, the German DAX lost 0.1% and the French CAC gained 0.2%.

Associated Press contributed to this article.

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