The Latest News:
- U.S. stocks ended November on a subdued note, with energy stocks fall after the Organization of Petroleum Exporting Countries maintained its output target.
- U.S. energy stocks experienced heavy pressure as crude oil futures declined to multi-year lows, Reuters reports.
- However, retail gains on optimistic holiday shopping season helped pare losses.
- Some observers, though, believe the rout in energy could extend next week as many were off because of the holiday.
- “This washout isn’t finished yet,” Colin Cieszynski, senior market analyst with CMC Markets, said in a Wall Street Journal article.. “Often, when you’ve had a big decline, people are forced out of the market…that might have been dragged out because of the holiday.”
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Max Chen contributed to this article.