Wednesday, October 17, 2018
News

US stocks close lower amid economic data

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New York | Wednesday, 2017 7:45:04 AM IST
US stocks ended lower as investors were digesting the latest economic data from the country.

The Dow Jones Industrial Average on Tuesday decreased 30.23 points, or 0.13 per cent, to 23,409.47, Xinhua news agency reported.

The S&P 500 erased 5.97 points, or 0.23 per cent, to 2,578.87. The Nasdaq Composite Index was down 19.72 points, or 0.29 per cent, to 6,737.87.

The US Labor Department on Tuesday said its producer price index (PPI) for final demand increased 0.4 percent last month after a similar gain in September, driven by a surge in the cost of services.

In the 12 months through October, the PPI jumped 2.8 per cent, which was the largest increase since February 2012 and also beat market expectations. The PPI rose 2.6 per cent year-on-year in September.

Meanwhile, traders kept an eye on the latest developments of US multinational General Electric (GE).

Shares of GE slumped 5.91 per cent on Tuesday to its lowest level since 2011, after the company unveiled a massive restructuring plan and slashed its dividend by 50 per cent at an investor meeting on Monday.

--IANS pgh/

( 195 Words)

2017-11-15-07:04:08 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Nowheera Shaik arrested for allegedly du...
Weak rupee benefited Infosys in Q2: CFO...
Amazon invests $10mn to support US recyc...
Congress demands probe into ONGC turning...
CVC reviews 'top 100 bank frauds' till 2...
CBI court in Uttar Pradesh convicts four...
More...
 
INDIA WORLD ASIA
Gunfight rages in Srinagar...
Chhattisgarh: 3 ITBP jawans injured in I...
K'taka: Woman thrashes banker for demand...
Andhra CM seeks Rajnath's intervention i...
Surat minor girl murder: Post-mortem rev...
Shrines not the place to indulge in chea...
More...    
 
 Top Stories
Canada legalises sale, use of canna... 
UN launches workplace mental health... 
Kim Kardashian slams 'mom shamers'... 
YouTube outage across the globe... 
Chhattisgarh polls: Candidates for ... 
Zainab Ansari's rapist executed in ... 
Anna Burns wins 50th Man Booker Pri... 
Patrick Wilson, Vera Farmiga to fea...