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New highs for Nasdaq and S&P 500, oil tumbles again

April 26, 2019 - 5:21 pm

Stocks ended very modestly higher today - though the gains were enough for both the Nasdaq and S&P 500 to notch record closing highs. The Dow Industrials rose 80 points, the Nasdaq added 27 and the S&P edged up 13.

ExxonMobil was a market laggard, skiding 2.1% after the energy company reported softer-than-expected results for the latest quarter. Chevron ended fractionally lower; its earnings beat expectations but revenue was a bit softer than estimates.

Oil futures tumbled in the wake of reports that President Trump again called on OPEC, the global oil cartel, to increase supply and bring down prices. The June crude contract on the New York Merc slid 2.9% to settle at $63.30 a barrel.

Another honor for Kansas City Chiefs quarterback Patrick Mahomes: the NFL’s most valuable player is the cover athlete for the videogame “Madden NFL 20.” 

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