Oil Prices Drop 3% After an Afternoon Selloff But CME Group (CME) Reports no Glitch
Trading was light on Monday after strong rallies towards the end of last week. Oil prices fell drastically, causing shares in the energy sector to drop as well and commodities, which had rallied last week, leveled off today. Apple (AAPL) shares rose after reaching a sales record over the weekend for the iPhone 5 and Office Depot (ODP) also saw gains after activist investor Starboard Value LP took a 13% stake in the chain. The dollar remains under pressure as the Fed's stimulus plan starts affect the system and extended its losses against both the euro and the Japanese yen.Today marks the anniversary of Occupy Wall Street protests that occurred one year ago.
Word on the Street
- Oil dramatically drops more than $4 a barrel, benchmark crude falls 2.4%.
- Tyco International (TYC) approves a three way breakup - the second split since 2007.
- Blue Cross Blue Shield of Montana has allied with the fourth-largest health insurer in the US.
- IKEA reports a 7% growth in sales for the past year.
- The dollar remains near a 7-month low while the euro continues to trade higher.
- Square prepares to expand internationally with backing from Visa (V) and Citigroup (C).
- Spirit Airlines (SAVE) sees shares plunge after being struck by a downgrade.
- Should you pay for job listings? Questions to keep in mind when searching for potential jobs.
- What you need to know about the newest platforms, technologies and initiatives that are turning your smartphone into your wallet.
Published on Sep 17, 2012By InvestorGuide Staff