Markets Now: It's a Quiet Morning For the Dow…But Check Out Oil
Want to know why the Dow Jones Industrial Average is doing what it's doing? Check back here for a semi-live look at the volatile markets from Barron's reporters.
6:46 a.m. There will be no triple-digit gain at the open for the Dow Jones Industrial Average today like there was yesterday, but it's still aiming for a third-consecutive advance. The blue-chip benchmark's futures have risen 25 points, or 0.1%, while S&P 500 futures have advanced 0.1%, and Nasdaq Composite futures have gained 0.3%.
But it's not completely boring out there. Brent Crude futures are off 1.2% at $74.40 a barrel after the U.S. asked OPEC to increase production. It's had little impact on WTI crude futures, the U.S. benchmark, which are off just 0.4% at $64.54 a barrel. "The biggest development overnight was news that the US has requested that OPEC raise output by 1M bbls/day which is weighing heavily on Brent crude prices this morning (-1.4%) and if the selling pressure continues, expect energy shares to be a drag on the broader stock market today," writes The Sevens Report's Tom Essaye.
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