Stocks ended lower Friday, finishing their first losing week
since August as Congress appears set to take its latest round of
budget disputes down to the wire. Worries about a possible federal
government shut-down undermining the national economy weighed on
investor attitudes throughout the week, although traders appear
still unsure just how severe an impact a shutdown could take on
growth. Economic data was mixed today, with comments from Federal
Reserve Gov. Jeremy Stein helping soothe fears of an imminent
tapering by the central bank.
Consumer spending and personal income rose by an as-expected
0.3% and 0.4%, respectively, during August following a revised 0.2%
increase for both in July. But the Reuters/University of Michigan
index of consumer sentiment generated more attention today after
the index fell to a 5-month low of 77.5 in September from a 82.1
reading in August.
Commodities were mixed. Crude oil for November delivery settled
16 cents lower to $102.87 per barrel while November natural gas
added 2 cents to finish at $3.59 per 1 million BTU. December gold
rose $14.40 to $1,340.50 per ounce while December silver added 6
cents, finishing at $21.81 per ounce. Copper settled 2 cents higher
at $3.33 per pound.
Here's where the markets stood at end-of-day:
Dow Jones Industrial Average down 70.06 (-0.46%) to
S&P 500 down 6.92 (-0.41%) to 1,691.75
Nasdaq Composite Index down 5.84 (-0.15%) to 3,781.59
Hang Seng Index up 0.35%
Shanghai China Composite Index up 0.20%
FTSE 100 Index down 0.81%
(+) CGIX, Aegis Capital begins coverage of the early-stage
diagnostics company with a Buy rating and a $25 price target.
(+) SPPR, REIT withdraws proposed public offering of 16.7
million shares of its common stock, citing market condition and its
(+) AEHR Narrows Q1 net loss to $0.02 per share, a penny better
than the year-ago quarter.
(-) LL, Federal authorities on Thursday execute a search warrant
at the company headquarters in Virginia in a probe of possible
violations of import rules for wood flooring.
(-) NKTR, Phase II efficacy study of its NKTR-181 drug candidate
in patients with chronic knee pain from osteoarthritis did not meet
its primary endpoints.
(-) VNEM, Flash storage company gets cold reception in first day
as a public company, opening trade at &.50 a share after
pricing its IPO of 18 million shares at $9 apiece - the mid-point
of the stock's $8 to $10 prospective range.
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