Markets

Wall Street Snaps Back to Near Flat on Rebound in Oil, Technical Support

An image of people surrounding a sheet of paper with many charts on it
Credit: Shutterstock photo

Stocks swung back into positive territory before dipping near even towards Thursday's close in concert with a rebound in oil, while steep losses in component stock Apple ( AAPL ) continued to weigh on the Nasdaq Composite Index.

Equities reacted negatively at the open to a 14-month high in initial jobless claims and pressure on oil futures, and continued to retreat until the Dow Jones Industrial Average and S&P 500 both found solid support at their respective 50-day moving averages. The two indices corrected off their lows but lost the bulk of their gains into the close.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

AAPL

Other Topics

Stocks

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More