Friday, November 28, 2014

“Black Friday” on Wall Street. The collapse of the oil market – Money.pl

"Black Friday" on Wall Street. The collapse of the oil market – Money.pl

2014-11-28 20:58

 & quot; Black Friday & quot; on Wall Street. The collapse of the oil market

[Photo: Diariocritico de Venezuela / Flickr (CC BY 2.0)]

No large number of investors to trade in shares. But it is huge excitement caused by the start of the season sales in the US, as well as getting cheaper oil. This was Friday’s session on the New York Stock Exchange.

After reaching a new record before Thanksgiving major indexes on Wall Street remained at levels very similar to the previous close. Friday’s session was cut short due to the so-called. Black Friday, which is the beginning of Christmas sales in retail chains.

According to the forecasts during the Christmas shopping season this year in the US traders zainkasują about $ 617 billion and it will be the highest takings since 2011. Many stores just for the holiday season generates even one-fifth of the annual takings. It is no wonder that during Friday’s session on the New York Stock Exchange is not among the investors there was not much interest to trade shares. Released on the market is not there any economic data from the United States.

And while millions of Americans rushed to buy discounted goods, analysts are increasingly concerned about the drastic fall in oil prices. After Thursday’s OPEC decision that the organization will not reduce oil production, the price has gone down by more than 6 percent, and fell below $ 70 a barrel. This is the lowest price since 2010.

OPEC decision was a big surprise for markets, as evidenced by the reactions of investors – said Tobias Britsch, the manager of the fund Meritena Investment Management GmbH, quoted by Bloomberg. He added that investors place would be very cautious when it comes to buying stocks of oil and gas.

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In the US started the season great sales. But not all have reason to be …

Just the thought of many investors, which could be seen on Friday after the quotations of the companies in these industries. Very significant shares in the S & amp; P 500 companies such as Chevron and Exxon Mobil fell about 4 percent.

Where some worrying declines in oil prices, while others are counting on profits. At the same time, the shares of oil companies lost their value went up quotes airlines that are counting on lower fuel costs. Similarly, it was already in place for major courier companies such as UPS or FedEx.

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