(Reuters) – U.S. stocks stalled on Monday after three straight sessions of gains as a bare-bones trade deal with China announced on Friday dampened sentiment and triggered a 2% drop in oil prices, ahead of the start of third-quarter earnings season. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 9, 2019. REUTERS/Brendan McDermid Oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) were among the biggest drags on the S&P 500 index, as oil prices gave up last week’s gains on growing concerns that the partial trade deal could take time to be sealed. [O/R] The S&P 500 and Dow Jones indexes ended Friday with their first weekly gain in a month after Washington signaled the two sides had taken a major step in easing the tit-for-tat measures that have hammered global growth this year. But the absence of details left investors feeling less upbeat about what had really been achieved. “Investors are trying to wrap their head around this ‘non deal’,” said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York. “If (the market) was really skeptical, it would be selling off a lot harder. But… Read full this story
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