Chesapeake Energy Corporation (NYSE:CHK) Stock: Oil traded higher on Friday


Chesapeake Energy Corporation (NYSE:CHK), after opening its shares at the price of $7.25, dropped -2.37% to close at $7.01 for the day. The stock moved on a traded volume of 39.77M shares, in comparison to 55.70M shares of average trading volume. The 52-week range for the stock is $1.50 and $8.20 and during the previous trading session the stock touched its highest price at $7.28. Its introductory price for the day was $7.25. The stock’s current distance from 20-Day Simple Moving Average (SMA20) is -3.85% where (SMA50) and (SMA200) are 6.64% and 23.67% respectively.

The S&P 500 and the Dow Jones Industrial Average were little changed on Friday after a mixed jobs report, while tech stocks lifted the Nasdaq to a record intraday high.

The Nasdaq was on track to be the biggest gainer in Wall Street’s first trading week of the year, rising about 2.2 percent. The S&P was set to gain 1.3 percent and the Dow 0.6 percent.

Oil traded higher on Friday as investors bought futures ahead of the weekend, but a strong U.S. dollar limited gains, as did lingering doubts about whether all OPEC producers would cut output in line with an agreement.

Trading was choppy, and market players cited end-of-week position-squaring and relatively low volumes during the first trading week of the year.

Brent crude futures, the benchmark for international oil prices, were up 11 cents at $57 per barrel at 2:35 p.m. ET (1935 GMT), having swung from a high of $57.47 to a low of $56.28.

In the United States, West Texas Intermediate (WTI) crude futures settled up 23 cents at $53.99 a barrel, recovering from a session low of $53.32 and off a high of $54.32.

The dollar gained broadly against major currencies after the U.S. non-farm payrolls report showed a slowing in hiring in December but an increase in wages, setting the economy up for further interest rate increases from the Federal Reserve this year.


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