Demonstrations In Greece And Spain Weigh On Markets – Acadiana Business Index
- The Dow finished 44 points lower at 13413. The S&P retreated 8 points to close at 1433. A decline in Apple led the NASDAQ to a 24 point loss to end the session at 3093.
- The major averages followed overseas markets lower as anti-austerity demonstrations in Greece and Spain weighed on sentiment for stocks.
- Today’s housing data also provided a headwind to the market. Homebuilders retreated with Pulte Group falling 76 cents to $15.30 after August sales of new homes missed consensus estimates.
- Energy was the worst performing sector today. Dow component Exxon slipped 51 cents to $91.23 as oil fell below $90 a barrel.
- The tech sector also underperformed as Apple shed $8.34 to $665.36 to extend its losing streak to third day. Jabil Circuit tumbled $2.07 to $18.90 after lowering its profit forecast.
- Utilities were the best performing group with Consolidated Edison up 63 cents to $60.09.
- Declining issues beat advancers by 3- on the NYSE and by 5-3 on the NASDAQ. NYSE Composite volume totaled more than 3.6 billion shares.
- The 10-year Treasury note was up 15/32 to yield 1.61%.
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