Stocks drop, oil is lower, Edwards' business summit wrapping up in Baton Rouge

February 21, 2019 - 3:36 pm

Jim Chesko reporting...

Stocks lost ground today, due in part to disappointing earnings news from companies including Domino’s and Hormel Foods.

The Dow Industrials slid 103 points, while the Nasdaq Composite fell 29 and the S&P 500 lost 9.

U.S. oil prices finished slightly lower today after government data showed that domestic stockpiles rose for a fifth-straight week as production jumped to a record level. On its first full day as the front-month contract, April crude dipped 20 cents to settle at $56.96 a barrel.

A major summit of about 500 business leaders from around Louisiana is winding down in Baton Rouge. 

Gov. John Bel Edwards called for the summit in a bid to identify the concerns of the business community and build partnerships between industry and government officials. Panel discussions were expected to focus on industrial tax exemptions, statewide tax policy and infrastructure.

 

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