Crude Oil Hits 3-Year Low; U.S. Trade Deficit Rose in to $43B in September
Stocks end the day mixed as crude oil prices dip to a 3-year low. Crude oil prices fell as low as $75.84 a barrel today, down almost 30% from its June high of nearly $108 a barrel. U.S. oil giants such as Exxon-Mobil (XOM) and Chevron (CVX) were trading just slightly lower, down 0.74% and 1.41%, respectively. Exports fell in September causing the U.S. trade deficit to rise to $43 billion last month, its highest level since May. Economists were forecasting a trade deficit of $40 billion in September.Investors who invested in Alibaba (BABA) during the company's IPO debut in September are much richer now, a whopping $11.8 billion richer. Alibaba's shares were up 6% today to $104.94, capping a 54% gain from their IPO price.
Word on the Street
Published on Nov 4, 2014By InvestorGuide Staff