Business

Snapshot: Oil prices, middling profits tug on stocks

Advertisement

Disappointing earnings and the price of oil falling to a 5-month low pulled stocks back from record highs. NRG Energy slumped as it cut its earnings forecast, leading other utilities lower. News Corp. fell after it posted a revenue decline due to weakness at newspapers in Australia. Gainers included airlines, led by JetBlue, after the Justice Department cleared the way for American and US Airways to merge, creating the world’s biggest airline. This year’s 24% surge in stocks has slowed; the S&P 500 has edged up just 0.6% this month after an average monthly gain of 1.7% for 10 months. ‘The market looks tired to us,’ said Jim Russell, at US Bank.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com