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Market News: Arena Pharmaceuticals, Dupont, Illumina

The stock markets in the United States declined today except the Dow Jones Industrial Average (DJIA), up by 0.08 as energy shares rally due to the increase in crude oil prices.

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The S&P 500 failed to maintain momentum to its longest rally this year amid a retreat in the equities of companies in the biotechnology sector. The index dropped 0.36%. The NASDAQ and the Russell 2000 fell 0.69% and 0.59%, respectively.

The West Texas Intermediate Crude Oil (WTI) prices climbed 5.25% to $48.69 per barrel while the Brent Crude rose 5.54% to $51.98 per barrel. The U.S. Energy Department’s Short-Term Energy Outlook showed that the country’s crude production declined 120,000 barrels per day in September.

Meanwhile, the emerging-market equities trade higher to its highest level since August. The increase was driven by the weakening of the dollar.

Commenting on the market trends, Michael Mullaney, chief investment officer at Fiduciary Trust Co. told Bloomberg, “We’ve had five really...


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