Shares of energy companies fell after a mixed jobs report.
Jobs and wage growth were surprisingly robust, prompting fears that the Federal Reserve would reconsider a move to a less aggressive policy.
The "energy complex" has been the clear leader of the broad stock market for the year to date, but, if the bear market in stocks is to come to an end, investors are likely to move into more growth oriented sectors, said Quincy Krosby, chief global strategist at brokerage LPL Financial.
The European Union reached a deal on a $60 a barrel cap on the price of Russian oil Friday, launching a new brand of international sanctions.
The tally of active oil rigs in the U.S. remained unchanged at 784, according to oil-services firm Baker Hughes.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-02-22 1700ET
