US stocks end moderately lower

Dhaka,  Monday,   2016-09-17
Published : 17 Sep 2016, 11:33:53

US stocks end moderately lower

US stocks end moderately lower
Stocks were moderately lower Friday, pushed down, in part, by the price of oil. Investors continue to remain on edge regarding the possibility of the Federal Reserve raising interest rates at its meeting next week. Banks also fell.

The Dow Jones industrial average fell 88.68 points, or 0.5 per cent, to 18,123.80. The S&P 500 index fell 8.10 points, or 0.4 per cent, to 2,139.16 and the Nasdaq composite fell 5.12 points, or 0.1 per cent, to 5,244.57.

The US-listed shares of Deutsche Bank dropped $1.38, or 9 per cent, to $13.38 after the bank said it did not intend to pay the $14 billion settlement that the US government asked for.

Federal regulators have been looking to settle with Deutsche Bank. Other European banks fell as well. Royal Bank of Scotland Group fell 30 cents, or 6 per cent, to $4.86.

The news out of Deutsche Bank dragged European stocks lower, with Germany's DAX closing down 1.5 per cent, France's CAC-40 index down 0.9 per cent and the UK's FTSE 100 index down 0.3 per cent.

Intel rose $1.11, or 3 per cent, to $37.67 after the company raised its revenue forecasts, citing stronger-than-expected demand for personal computers.

Benchmark US crude lost 88 cents to $43.03 per barrel in New York. Brent crude, used to price international oils, fell 82 cents to $45.77 per barrel.

Heating oil fell 1 cent to $1.41 a gallon, wholesale gasoline rose 3 cents to $1.46 a gallon and natural gas rose 2 cents to $2.948 per 1,000 cubic feet.

The yield on the 10-year Treasury note was mostly unchanged at 1.69 per cent. The euro fell to $1.1151 from $1.246 and the dollar rose to 102.42 yen from 102.16 yen.

In metals, gold fell $7.80 to $1,310.20 an ounce, silver fell 18 cents to $18.86 an ounce and copper was unchanged at $2.16 a pound, according to a news agency report.

-SRS-
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