Oil Prices Drop 4%; Deutsche Bank Advances 8% - Adviser Investments

Oil Prices Drop 4%; Deutsche Bank Advances 8%

Charlie Toole, vice president at Adviser Investments, has the market analysis for Monday, July 16. The energy sector performed poorly today and the price of oil dropped 4% per barrel on reports of that the Trump administration may grant waivers to certain countries importing oil from Iran following the planned imposition of sanctions in November. Conversely, financials stocks led the gains with Deutsche Bank advancing 8% on encouraging preliminary results; and Bank of America (ticker: BAC) also topping expectations. Strong performance in BAC’s capital markets and credit card divisions, coupled with lower expenses and better-than-expected loan growth, led to a 4% gain for the company’s stock. On the other hand, Netflix plunged 10% in after-hours trading after missing subscriber-growth targets by nearly 50%.

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