Friday could be more volatile, with tech stocks and oil trouble driving market [CNBC]
WESTERN REFINING LOGISTICS LP (WNRL)
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Source: CNBC
"The fact the tech stocks selling was less intense helped," said Art Cashin, director of floor operations at UBS. "That's what's calling the tune [for Friday]." He said the tech sell-off, which started up again Wednesday after taking a pause, was discouraging to traders. "They thought it was going to be a very short occurrence." A high-profile casualty of the tech sell-off was Snap , trading down nearly five percent and closing just on its $17 per share IPO price. Traders will be watching to see if it breaks that level Friday. FANG tech stocks remained under pressure Wednesday but also recovered from steeper losses. Amazon.com ended down 1.3 percent and Facebook , off 0.3 percent. Oil could also be a factor in Friday's trading, especially if it heads toward $40 per barrel, a level considered too low for most U.S. shale drillers to make money. On Thursday, crude futures slid to a fresh 7-month low, with West Texas Intermediate futures settling at $44.46, o
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