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Stocks post worst weekly loss since August

Friday, December 11, 2015 - 01:17

Oil continued to slide, fueling investor concerns that a pullback in commodities is forecasting a broader slowdown. Jeanne Yurman reports.

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December's Santa Claus rally on hold as slumping oil prices weighed on the markets. U.S. stocks ended the day lower and clocked their worst weekly performance since August. The energy sector lead the declines as oil continued its freefall, closing near seven-year lows. LexION Capital's Elle Kaplan says stocks may get some relief next week from the Federal Reserve. SOUNDBITE: ELLE KAPLAN, CEO & FOUNDER, LEXION CAPITAL IN (ENGLISH) SAYING: "There is hope that turns next week after the Fed meets. We are anticipating they will raise rates so if they do hopefully that will erase some of that uncertainty and with less uncertainty and fear in the markets perhaps people will feel more positive, put money back in and we'll start to see things turn." Retail sales rose in November as consumers opened their wallets for the holiday shopping season. Dow and DuPont announced a $130 billion megamerger. Though shares of both companies fell with details of the deal getting a lukewarm reception. Shares of Dow component Chevron sliding on falling crude prices. And JetBlue shares skidded after the company said it expected flight sales to fall in the fourth quarter. Overseas markets lost ground on weak commodity prices.

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Stocks post worst weekly loss since August

Friday, December 11, 2015 - 01:17