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U.S. stocks dip in early trading on profit taking, higher oil prices

U.S. stocks dip in early trading on profit taking, higher oil prices

Stocks fell in early trading Thursday as investors took profits after two straight sessions in which the Dow Jones industrial average set new record closes.
Sharply higher oil prices dimmed enthusiasm for stocks, trumping more positive news, including better-than-expected retail sales reports for September and lower unemployment claims for last week.
On Wednesday, the Dow soared 123 points to 11,850.61. The Standard & Poor's 500 also hit a 5 1/2 year high.
But some traders have questioned the depth of the rally. The market's ratio of advancers to decliners in recent sessions has tended to be unimpressive.
In the first hour of trading, the Dow fell 18.25, or 0.15 percent, to 11,832.36.
Broader stock indicators were higher. The S&P 500 index fell 1.37, or 0.10, to 1,348.85, and the Nasdaq composite index fell 3.34, or 0.15 percent, to 2,287.61.


Updated : 2020-12-03 03:32 GMT+08:00