Equities Market Roundup: Wall Street Resumes Selling on Oil, Economy Drop

Equities Editors Desk  |

US Department of energyU.S. stocks are experiencing a significant sell-off in early trading today after the U.S. Department of Energy announced that it plans to release 30 million barrels of oil from the Strategic Petroleum Reserve, as part of a the International Energy Agency's plans to release 60 million barrels of oils to the open market over the course of the next month. The plan is to help counteract any production disrupted from Libya. According to the Department of Energy, U.S. oil reserves are at a historically high level of 727 million barrels. The news pummeled crude prices, plummeting to $90 a barrel. Investors had already been uneasy by statements made by the Federal Reserve yesterday, as the outlook for U.S.'s economic growth was lowered and no new stimulus plans were announced. Other commodities like gold and silver have also taking a beating the last two days as well. A slew of economic data released today didn't help matters much. New home sales fell 2.1 percent in May, though is still up 13.5 percent from a year ago. The U.S. Department of Labor also said that 9,000 more Americans applied for unemployment benefits last week.

DJIA: 11,952.06 (-1.30 percent)
S&P 500: 1,271.92 (-1.18 percent)
2,658.39 (-0.40 percent)
Russell 2000: 791.39 (-1.06 percent)

In other news:

Check back as more news develops.


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Symbol Name Price Change % Volume
C.P.J Citigroup Inc. Dep Shs Repstg 1/1000 Pfd Ser J Fixed/Fltg 27.91 0.17 0.61 82,200 Trade


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CMX Gold & Silver Corp.

CMX Gold & Silver Corp is an exploration stage company. The Company is engaged in the acquisition, exploration and development of silver and copper/gold properties in the USA.