Commodities slump drags down energy, mining companies
April 12, 2013 11:18AM
Traders Christopher Anzelone, left, and Steven Capo confer on the floor of the New York Stock Exchange, Friday, April 12, 2013. The stock market is heading lower in early trading after a four-day rise as bank shares weaken. (AP Photo/Richard Drew)
Updated: April 12, 2013 3:34PM
NEW YORK (AP) — A four-day advance came to an end on Wall Street as falling commodity prices brought down the stocks of energy and mining companies.
The Dow Jones industrial average fell a fraction to close at 14,865 Friday. In the first four days of the week the Dow rose 300 points.
The Standard & Poor’s 500 index fell four points to 1,588. The Nasdaq composite lost five points to 3,294.
All three indexes still ended the week higher.
Oil companies fell after crude dropped $2 to $91 a barrel. OPEC, the International Energy Agency and the U.S. have cut their estimates for oil demand this year.
Three stocks fell for every two that rose on the New York Stock Exchange. Volume was light at 3.2 billion shares.