While you were sleeping: Wall Street, oil drop

Mon, 08 Dec 2014

By Margreet Dietz Dec. 9 (BusinessDesk) - Wall Street fell from record highs, as a further slump in oil depressed shares of Chevron and Exxon Mobil, while shares of McDonald’s led the decline in the Dow after a worse-than-expected drop in sales. Brent and US crude sank to fresh five-year lows, bolstering concern that the decline will continue if it remains unchecked by a drop in OPEC production. "Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter of 2015," Morgan Stanley ana...

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