Falling commodity prices punished materials and energy companies, pushing Wall Street's major stock indexes to a lower close. Oil lost nearly $2 to $150 to a barrel, hurting energy stocks.
Health insurance companies declined more than the broader market as the U.S. Supreme Court wrapped up oral arguments in a challenge to President Barack Obama's massive health care overhaul.
Cheveron fell 1.1 percent, exxon 0.9 percent, Aluminum producer Alcoa Inc. fell 2.6 percent, Aetna Inc. and Health Net Inc. lost 1 percent, and Catalyst Health Solutions fell 1.4 percent.
Futures for crude, natural gas, heating oil and gasoline all fell, with crude leading the way. Oil prices fell after a report suggesting a larger-than-expected jump in U.S. crude supplies, a sign that demand remains weak.
If consumers get a break on what they have to pay for energy, that could provide a bump for the U.S. economy.
1 comment:
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