Telecom Stocks Lead Declines On The S&P – Acadiana Business Index
Markets ended the session lower, albeit off of their worst levels. Mike Hunter has your stock market report on the Acadiana Business Index.
- The Dow Jones Industrial Average fell 55 points to 13,329 after being down by as many as 91 points earlier. The S&P 500 gave up 5 points to 1457 and the NASDAQ ended lower by 7 points with the index at 3092.
- Stocks declined throughout the session as investors exercised caution ahead of fourth-quarter earnings season.
- All 10 sectors on the S&P ended lower, led by declines in telecom stocks. Verizon fell $1.07 to $43.10 and AT&T gave up 59 cents to $34.35 in the session. In other news, shares of Boeing ended lower by $2.00 to $74.13 following two safety incidents with their 737 dreamliner aircrafts that raised concerns over potential design flaws. Also on the downside, Yum! Brands shed $2.85 to $65.04 after the company warned that full year earnings would be less than projected due to weak sales in China.
- Composite volume on the NYSE was 3.5 billion shares. Issues on the exchange were even. The NASDAQ was 8-7 negative on issues.
- Turning to fixed income market, Treasuries are higher along the curve. The benchmark 10-year note was up 5/16 of a point to yield 1.87% and the 30-year bond is advancing 5/8 of a point to yield 3.07%.
For the complete report, click Ken's Market Report.