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Added on the 03/08/2015 23:24:52 - Copyright : Reuters EN
Wall Street took a step back from recent gain as energy stocks dragged down the markets. Bobbi Rebell reports.
US stocks dipped slightly on Wednesday as investors weighed the latest stimulus talk developments. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to reach a deal before the deadline. According to Business Insider, the two are now working to finalize a proposal before the weekend. Senate Democrats rejected Republicans' $500 billion "skinny bill," leaving both parties stuck in a deadlock. Disagreements over a relief bill are still significant between the Republicans and Democrats. The White House recently offered a $1.9 trillion bill, coming in well below Democrats' $2.2 trillion package.
Falling oil prices dragged down energy shares. But the major indices still posted gains for the week, as Fred Katayama reports.
U.S. stocks fell sharply on Tuesday, with energy shares slammed by lower oil prices and financials dropping on diminished prospects of a near-term rate hike. Bobbi Rebell reports.
Saudi Arabia and Russia have agreed to co-operate in oil markets, sending oil prices higher and world stocks up pm hopes the two top producers would work together to tackle a global glut. Sonia Legg reports
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