Stocks, Oil Follow China’s Drop

Posted by admin on Aug 31st, 2009 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Stocks, Oil Follow China’s Drop U.S. investors shied from risk on the final trading day of the month, unloading stocks and commodities following a big stock-market selloff in China. The Dow Jones Industrial Average declined 47.92 points, or 0.5%, to 9496.28, marking a second straight decline. Alcoa, Caterpillar and Boeing fell more than 3%. United Technologies declined 0.5%. Walt Disney slid 3% after it said it would acquire Marvel Entertainment for about $4 billion. Marvel soared 25%. Market Data Center > Most Actives | Gainers | Losers New Highs and Lows | Money Flows Intraday Futures | Currencies Video: The Day Ahead Despite those losses, stocks finished August ahead of where they started. For the month, the Dow industrials gained 3.5%, the average's best performance for August since 2000. The Nasdaq Composite Index fell 19.71 points, or 1%, to 2009.06. The S&P 500 sank 8.30 points, or 0.8%, to 1020.63. All its sectors fell, led by a decline of 1.9% in its energy sector. The declines were sparked by an overnight drop in China's benchmark stock index, the Shanghai Composite, which fell 6.[Read more...]

Comments are closed