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US: Dow edges down from record on oil weakness

Tuesday, December 6, 2016 - 22:59

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[NEW YORK] Petroleum-linked shares pulled back in opening trading Tuesday on lower oil prices, as the Dow retreated slightly from its record close.

ExxonMobil lost 0.7 per cent and Chevron dipped 0.8 per cent as the rally in oil prices after last week's Opec meeting showed signs of fatigue.

The US trade deficit grew nearly 18 per cent in October to US$42.6 billion, a level about in line with analyst expectations.

Five minutes into trading, the Dow Jones Industrial Average was down less than 0.1 per cent to 19,213.57.

The broad-based S&P rose 0.1 per cent to 2,205.97, while the tech-rich Nasdaq Composite Index advanced 0.1 per cent 5,314.08.

AFP

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