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Stock Market Today, Oct. 14, 2014: U.S. stock markets ended the day flat Tuesday after struggling to rebound, with yet another late sell-off hitting the markets in the final hour. The S&P 500 Index and Nasdaq managed to eke out modest gains, but the Dow Jones slipped another 5 points. The S&P 500 Volatility Index (VIX) dipped 4% on the day.
Oil prices didn't fare better. Brent crude, the global benchmark for oil, saw prices slide more than 4% to fall near $85 per barrel. This is the weakest price level for Brent since 2010. Meanwhile, West Texas Intermediate prices slid more than 4.4%, dipping below $82 per barrel. The downturn accelerated after the International Energy Agency projected weakening demand and higher supplies. Given OPEC's unwillingness to slash supplies, the Agency suggested that oil prices could fall even further.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.