The Largest Oil & Energy Job Board

U.S Index Futures Decline as Oil, Falls China PMI Misses

U.S. stock-index futures declined, indicating equities will fall for a second day, as oil prices extended losses, and data showed Chinese manufacturing slowed last month.

Schlumberger (SLB) Ltd. slipped 2.6 percent in early New York trading as West Texas Intermediate tumbled. American Airlines (AAL) Group Inc. and Southwest Airlines Co. gained amid optimism that travel-related companies will benefit from lower fuel costs.

Contracts on the Standard & Poor’s 500 Index (SPX) fell 0.5 percent to 2,056 at 10:30 a.m. in London. The equity index climbed 2.5 percent in November, advancing for a second month, as global central banks added stimulus and plunging oil prices triggered gains in consumer companies that overshadowed a slump in energy shares. Dow Jones Industrial Average contracts dropped 75 points, or 0.4 percent, to 17,737, today.

A report at 10 a.m. New York time from the Institute for Supply Management will show its factory index declined to 58 in November from 59 the previous month, according to the median analyst forecast.

China’s official factory index fell to 50.3 for November, below the 50.5 reading projected by economists, while a private gauge from HSBC Holdings Plc and Markit Economics came in at 50, the border between expansion and contraction.

Retail stocks may move after a report from the National Retail Federation showed U.S. consumers spent an estimated 11 percent less than last year over the post-Thanksgiving weekend. It’s the second year in a row that sales declined during a period famous for long lines and frenzied crowds.

Schlumberger Drops--

Schlumberger, the world’s biggest provider of oilfield services, retreated 2.6 percent to $83.30 in early New York trading. Exxon Mobil Corp. lost 1.3 percent to $89.39. WTI tumbled below $65 a barrel to the lowest level since July 2009, amid speculation oil prices have further to drop.

Among other U.S. energy-related stocks, Oasis Petroleum Inc. retreated 12 percent to $16.25, and EOG Resources Inc. fell 2 percent to $85.

Kellogg Co. slid 0.8 percent to $65.69 in Germany after outbidding Abraaj Group Ltd. for a stake in Egyptian confectionery maker Bisco Misr.

American Airlines, the world’s largest carrier, climbed 0.7 percent to $48.89, and Southwest Airlines rose 2.7 percent to $42.96 in German trading.

Copyright © 2017, OilFinity. All Rights Reserved. Powered by Talenetic Job Board Software