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22 Aug 2016
Wall Street mixed at start of week, dollar sinks
Wall Street was down at the start of the week with oil futures being capped on the bid after rising for seven-sessions in a row and being sold off by over a dollar.
WTI dropped from $48.71 down to $47.32. Therefor, energy shares on the S&P 500 dragged the market down by almost 1% while the Dow Jones Industrial Average closed off 23 points, or 0.1% , at 18,529. The Nasdaq Composite Index however managed blip of 0.1% higher at 5,244. Meanwhile, markets will be filling up towards the end of the week with the Jackson Hole showdown and US GDP on Friday where markets would be looking for indications as to what the Fed's next move can be before the US elections at the end of the year. On this basis, the U.S. dollar was also softer.