What's moving markets today: Live updates - CNN

Investors will be keeping a close eye on oil after it suffered its worst day since Christmas Eve on Thursday.

After starting the day above $61, US oil prices nosedived nearly 6% to a 10-week low of $57.91 a barrel.

US oil prices showed signs of stabilizing early Friday: Crude futures were trading at $58.64, up 1.3%.

Chevron (CVX) and ExxonMobil (XOM) fell 2%, while oil drillers like Hess (HES) plunged more than 7%.

Fears that the trade war between the US and China could get worse before it gets better are weighing on the oil market. The sector's fortunes are closely tied to expectations for global growth.

There's also concern about signs that oil inventories are starting to build up.

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https://www.cnn.com/business/live-news/stock-market-news-today-052419/index.html

2019-05-24 12:28:00Z
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