U.S. stocks turned slightly higher on Monday but a slide in oil prices dragged down energy shares, keeping a lid on gains in other sectors. According to WSJ
U.S. crude-oil futures were down 2.3% at $48.52 a barrel. Chevron Corp. was the Dow’s biggest laggard, down 1.3% at $88.36, while Exxon Mobil Corp. fell 0.4 at $78.94%.
“That’s where the rubber meets the road for these companies,” he said, adding that investors will be zeroing in on how companies have been affected by a strong U.S. dollar and low oil prices. WSJ
Shares in European mining companies, energy companies and auto makers have recovered this month after sharp drops in those sectors. Concerns over a China slowdown and a drop in commodities prices had battered mining firms, while the Volkswagen AG emissions scandal has weighed on auto makers. WSJ
During Monday’s Afternoon trade, Shares of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR), declined -4.67% to $5.41. The firm opened its current trade at $5.56, and as of now, it is trading at $5.41. The total volume traded for the day is 19.44M shares, as compared to its average daily volume of 40.85M shares. The stock is floating in a range of $5.33 $5.66. The stock holda the market capitalization of $34.07B.
Petroleo Brasileiro SA Petrobras is a Brazil-based integrated energy company. The Company operates in the Exploration and Production (E&P); Refining, Transportation and Marketing (RTM); Gas and Power; Biofuels; Distribution, and International segments. E&P comprises exploration, development and production of crude oil, natural gas liquid and natural gas in Brazil. RTM covers the refining, logistics, transport and trading of crude oil and oil products activities, export of ethanol, extraction and processing of shale, and interests in petrochemical companies in Brazil.
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