US stocks drop ahead of oil producer’s meeting

Caution ahead of oil producer’s meeting to be held over the weekend is restricting the buying interest in the US stock markets.

At the time of writing, Dow index was down 24 points or 0.14%. S&P 500 index was down 0.20% or 4 points. Nasdaq index was down 12 points or 0.27% as well.

Among stocks, Cisco was the top loser in Dow index; trading 1.45% lower. Other losers were Goldman Sachs, Chevron, JP Morgan and UnitedHealth. On the other hand, wining side included names like Microsoft, The Travelers, Wal-Mart Stores, Coca-Cola and Procter&Gamble.

Oil & Gas index was down 1.3% as both benchmarks were down more than 3% on talks that output freeze would not cure excess supply problem.