Jason Barton

Professional Information and Energy News

Energy stocks resume their slide after jobs report

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Feb. 5, 2010, 4:26 p.m. EST

By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) — Energy stocks ended with modest losses Friday as the Dow Jones Industrial Average erased a triple-digit deficit and ended 10 points higher in volatile action.

A mixed U.S. jobs report provided no lift to energy stocks.

While the U.S. unemployment rate unexpectedly dropped to 9.7%, the economy still shed 20,000 jobs in January.

Shares of oil and gas companies initially rose, moved deeply into the red by the afternoon, only to pare their losses by the close.

Crude prices dipped below $70 a barrel, but then abruptly rose later in the day.

Read the entire article here.

Written by Jason

February 7th, 2010 at 7:43 am