US stocks: Wall Street indexes slip as oil prices rise, retail results awaited
All three major indices closed lower for the day
On Monday, August 17, Wall Street's three major indices closed lower, with investors holding off on making decisions until they received quarterly reports from leading retailers. Oil prices climbed as tensions between the United States and Iran remained unresolved, with oil futures increasing by more than US$2 per barrel due to pessimism surrounding diplomatic negotiations.
The energy index gained 0.87 percent, making it the only sector to rise among the S&P 500's 11 major industry sectors. The Dow Jones Industrial Average dropped 272.63 points, or 0.51 percent, to 53,459.78, the S&P 500 fell 40.70 points, or 0.52 percent, to 7,745.06, and the Nasdaq Composite lost 84.25 points, or 0.31 percent, to 26,644.91. Many traders were cautious, awaiting retail earnings from companies such as Home Depot and Walmart.
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