“Stocks Wobble, Oil Prices Rise Despite Release of Crude”
November 23, 2021
“The S&P 500 fell 0.1% as of 10:15 a.m. Eastern. The Dow Jones Industrial Average rose 33 points, or 0.1%, to 35,657 and the Nasdaq fell 0.5%. Bond yields edged higher. The yield on the 10-year Treasury rose to 1.65% from 1.63% late Monday. That helped send banks higher, as they rely on higher bond yields to charge more lucrative interest on loans. Bank of America rose 1.2%…
Oil and gas companies made solid gains as energy prices rose. Devon Energy rose 4.9%. Retailers were mixed ahead of the official start of the key holiday shopping season. Discount retailer Dollar Tree rose 4.5%. Starbucks rose 1.7%. Best Buy slumped 15% as concerns about tighter margins outweighed solid earnings. Hotel operators gained ground ahead as people prepare to travel for the Thanksgiving holiday. Hilton rose 1.9% and Marriott rose 1.2%…”