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  1. Home
  2. / Investing
  3. / Energy

Market Wrap: Manic Month Ends With a Loss

Energy stocks rally as price of oil climbs.
By DAVID PELTIER Aug 31, 2015 | 04:43 PM EDT
Stocks quotes in this article: MDCO, W, DLTR

U.S. stocks ended a volatile month of August with a decline on Monday, as the broader market averages fell 0.7% to 1.1% across the board. Health care and utility names led the way lower. Energy stocks rallied as the price of crude oil added another 7% to recent gains.

The CBOE S&P 500 Volatility index also rebounded more than 9% to 28.47. Elsewhere, the yield on the benchmark 10-year U.S. Treasury note gained 3.2 basis points to 2.213%.

Medicines (MDCO) was the big winner on Monday, gaining nearly 22% after positive clinical results for its cholesterol drug. On the other hand, Wayfair (W) fell more than 11% after being highlighted as a short-sale target by Citron Research.

Looking ahead to Tuesday morning, Dollar Tree (DLTR) headlines the earnings calendar. The major automakers will also report August monthly sales.

David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.

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TAGS: Investing | U.S. Equity | Energy | Stocks

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