The Dow Jones Industrial Average's march to 20,000 hit another roadblock on the first trading day of the year as crude oil prices reversed course. Crude closed at its lowest in more than two weeks as hopes faded that an output cut would rebalance markets. Kansas City Southern (KSU) slumped on news Ford (F) had cancelled plans to build a plant in Mexico. The facility would have been built along one of the railway company's routes. Industry peers including Norfolk Southern (NSU) and Union Pacific (UNP) also fell. Abercrombie & Fitch (ANF) moved lower after a series of downgrades. Oppenheimer reduced its rating to underperform while Jefferies cut its own to hold. Xerox (XRX) jumped after Credit Suisse upped its rating to outperform. Analysts pointed to increased cost savings and a renewed focus on growth segments such as graphics printing.
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