Chesapeake Energy Corporation (NYSE:CHK) fell -2.08% and to closed at $5.18 on Monday. The main U.S. stock indexes closed marginally lower Monday for the third straight day of losses, as investors were reluctant to make big bets without major economic or corporate news. The S&P 500 index SPX, -0.20% closed off 4.8 points, or 0.2%, at 2,373.45, with seven of the 11 main sectors finishing in negative territory. Financials were the biggest decliners, putting pressure on the main index. Meanwhile energy stocks tracked volatile oil prices, ending slightly lower as crude-oil prices recovered some of the sharp losses.
The Dow Jones Industrial Average DJIA, -0.04% ended 8.76 points, or less than 0.1%, lower at 20,905.86, with two-thirds of the blue-chip companies closing in positive territory. Caterpillar Inc. CAT, +2.68% and Nike Inc. NKE, +1.52% led the gains, closing up 2.7% and 1.5%, respectively while Home Depot Inc. HD, -1.20% and Visa Inc. V, -1.17% were the top decliners, each losing 1.2%.
According to Market Watch, Crude futures rebounded in early Asia trade Tuesday but continued to hover around a four-month low, weighed by strong inventories and accelerating production in the U.S.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in April last traded up $0.18, or 0.37%, at $48.83 a barrel in the Globex electronic session. May Brent crude on ICE Futures Europe gained $0.25, or 0.48%, to $51.78 a barrel.
Oil prices have slumped more than 10% year-to-date, dragged lower by rising shale-oil production and inventories in the U.S., which have nearly wiped out all the gains reaped since the Organization of the Petroleum Exporting Countries and Russia last year consented to cut 1.8 million barrels of their daily production in the first half of 2017.