Friday, US stocks market closed lower backed by the August consumer sentiment survey. A disappointing report on consumer sentiment sent the benchmark indices in the red but they however managed to close off the day’s low. The report revealed that sentiment unpredictably declined to 63.2, the lowest level since March. However, consumer prices were flat in July from June and Industrial production increases for the first time in July this year.
The Dow Jones Industrial Average (DJIA) ended down by 76.79 points at 9,321.40, NASDAQ index declined by 23.83 points to 1,985.82 and the S&P 500 (SPX) closed lower by 8.64 points at 1,004.09.
Retailers stocks also had a weak session following downside guidance from JCPenney .The dour outlook overshadowed the company''s better-than-expected second quarter earnings results.
In economic news, consumer prices in July remained flat from June, but plunged 2.1% from corresponding period of previous year. This is largest decline since January 1950. However, the industrial production increased 0.5% in July, for the first time this year on inventory rebuilding and the reopening of auto plants.
US light crude oil futures for September delivery ended at $67.29 per barrel down by 4.6% on the New York Mercantile Exchange on diminished hopes that an economic recovery would boost oil demand.
Gold futures for the month of December delivery finished the session at $948.70 per ounce lower by 0.8% on the New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) ended down by 76.79 points at 9,321.40, NASDAQ index declined by 23.83 points to 1,985.82 and the S&P 500 (SPX) closed lower by 8.64 points at 1,004.09.
Retailers stocks also had a weak session following downside guidance from JCPenney .The dour outlook overshadowed the company''s better-than-expected second quarter earnings results.
In economic news, consumer prices in July remained flat from June, but plunged 2.1% from corresponding period of previous year. This is largest decline since January 1950. However, the industrial production increased 0.5% in July, for the first time this year on inventory rebuilding and the reopening of auto plants.
US light crude oil futures for September delivery ended at $67.29 per barrel down by 4.6% on the New York Mercantile Exchange on diminished hopes that an economic recovery would boost oil demand.
Gold futures for the month of December delivery finished the session at $948.70 per ounce lower by 0.8% on the New York Mercantile Exchange.
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