Wall Street: US-Börsen im Plus nach uneinheitlichem Start in neue Woche
Die G7 wollten am Samstag ein klares Signal an den Ölmarkt senden: Es droht keine Knappheit. Anleger beruhigt das zunächst nicht. Zudem rückt der US-Dienstleistungssektor in den Fokus.
After an uneven start to the week, the major US indices remain in the black by the end of Monday. The Dow Jones, which tracks large company stocks, is up slightly to 51,293 points. The broader S&P 500 climbed 0.7 percent to 7,776. The technology-focused Nasdaq gained nearly 1 percent to 27,458 points. The Nasdaq 100, which gauges the performance of 100 large non-financial companies, is also up 0.8 percent at 31,045 points.
Investors are closely watching oil prices on Monday, as Germany and the other G7 countries agreed to release oil emergency reserves. This release of 100 million barrels of crude and diesel, coordinated by the International Energy Agency, is meant to cover global oil demand for four months. The exact contribution of each country is still unknown.
Oil market investors relaxed on Monday evening, as the price of a barrel of US Light Oil (WTI) for November delivery fell 0.9 percent, and Brent crude, a major oil type important for Europe, fell 0.9 percent to $101 per barrel. G7 leaders signaled to the oil market that there is enough oil and no shortage. "Oil prices are not due to a shortage of crude oil above $100 per barrel," said Jochen Stanzl, Chief Market Analyst at Consorsbank.
"Record insurance costs, disruptions in international shipping, and refinery bottlenecks are driving prices up."
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