Market rally runs out of steam

Wall St
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Modest losses for U.S. stocks today, led by blue chips. The Dow Jones Industrials shed 220 points, the S&P 500 fell 24, and the Nasdaq Composite lost 49. The Nasdaq managed a narrow gain for the week; the Dow and S&P lost ground, however.

Shares of Carnival slid 4.5%. The company said late yesterday it will seek to raise roughly $2 billion in bonds as it aims to weather headwinds to the cruise business caused by the coronavirus pandemic.

U.S. oil prices rose modestly today. The expiring front-month contract, crude for December delivery, rose 41 cents to settle at $42.15 a barrel. The new front-month contract, January oil, settled 1.2% higher today at $42.42 a barrel.

We now know when the much-anticipated sequel to Eddie Murphy’s 1988 hit Coming to America will arrive. The film will debut on Amazon Prime Video on March 5, 2021.