COVID-19 concerns hit the east coast hard, driving markets to its first loss in 4 trading days. The Dow Jones Industrial Average traded 130 points lower, or 0.5%. The S&P 500 fell 0.4% while the Nasdaq Composite dived 0.1%. New York City said its daily positive rate of coronavirus tests is back above 3% for the first time in months. In economic news Tuesday, The Conference Board said consumer confidence jumped much more than expected, hitting a print of 101.8 for September. Economists polled by Dow Jones expected consumer confidence to rise to 90.1 from 86.3 in August.

Oil and Gas News Today

What happened to crude oil prices today? Bears came in a drove oil down to around $39, settling at $39.14 at 1:12 PM MST. Traders reacted to Libyan oil production having tripled recently, pushing even more bearish fundamentals. Natural Gas prices rolled into the new Nov contract, but fell 8% off weak supply outlook as more natural gas builds are expected.

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