Stocks end mixed as oil, Europe weigh on investors
Oct. 27, 2014
NEW YORK (AP) — U.S. stocks are ending mixed as the price of oil slips and more disappointing news on the global economy emerges.
Investment bank Goldman Sachs lowered its forecast for oil prices because of ample supply and weaker demand. Crude oil fell 1 cent to close at $81 a barrel after starting the day sharply lower. Business confidence in Germany declined for a sixth straight month.
The Standard & Poor's 500 index slipped two points, or 0.2 percent, to close at 1,961. Energy and materials companies fell the most.
The Dow Jones industrial average edged up 12 points, or 0.1 percent, to 16,817. The Nasdaq rose two points, or 0.1 percent, to 4,485. The energy sector was down 2 percent compared with a 0.2 percent decline in the broader S&P 500.