Stocks are mixed as oil prices hit 7-year high


U.S. stock indexes were mixed on Monday as oil prices hit their highest level in seven years.

The Dow Jones Industrial Average rose 49 points, or 0.14%, while the S&P 500 Index and the Nasdaq Composite Index were down 0.15% and 0.38% respectively. The losses come after the S&P 500 gained 1.2% last week, the best weekly performance since late June.

Teleprinter Security Last Switch Switch %
Me: DJI MEDIUM DOW JONES 34774.77 +28.52 + 0.08%
SP500 S&P 500 4394.02 +2.68 + 0.06%
I: COMP NASDAQ COMPOSITE INDEX 14594.89706 +15.36 + 0.11%

In stocks, Diamondback Energy Inc., ExxonMobil Corp. and Cabot Oil & Gas Corp. were among the early leaders as West Texas Intermediate crude climbed from $ 1.58 to $ 80.93 per barrel. The energy component briefly exceeded $ 82 for the first time in seven years.

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CROC DIAMONDBACK ENERGY, INC. 111.36 +1.47 +1.33%
XOM EXXON MOBIL CORP. 62.54 +0.37 + 0.59%
TOOTH n / A n / A n / A n / A
CVX CHEVRON CORP. 108.34 +0.30 + 0.28%

Elsewhere in space, Chevron Corp. announced that it would aim for net zero emissions for some upstream gas emissions by 2050. A number of other energy companies have already announced plans to reduce greenhouse gas emissions.

Southwest Airlines Co. blamed air traffic control issues, bad weather in Florida and understaffing for more than 1,600 flights canceled over the weekend.

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LCV SOUTH-WEST AIRLINES CO. 52.52 -1.39 -2.58%

Merck & Co. said it has requested emergency use authorization for its COVID-19 tablet. If approved, the drug would be the first oral antiviral drug for the disease.

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MRK MERCK & CO., INC. 81.09 +0.41 + 0.51%

Honeywell International Inc. has raised its business jet delivery forecast for 2022 to 2031 by 1% to 7,400 aircraft valued at $ 238 billion.

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The US Treasury market is closed for Columbus Day.

The overseas markets were mixed.

European trade was choppy with the British FTSE 100 up 0.42% while the French CAC 40 and German DAX 30 fell 0.1% and 0.27% respectively.


In Asia, the Chinese Shanghai Composite index slipped 0.01%, Japan’s Nikkei 225 rose 1.6% and the Hong Kong Hang Seng index jumped 1.96%.


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