Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US market closed mostly lower; Dow report minor gains

05-Dec2017

US market closed mostly lower; Dow report minor gains

The US markets closed mostly lower on Monday, with the S&P 500 and the Nasdaq slipping, as large-capitalization technology names took a beating. Early Saturday, the Senate passed the Republican-sponsored tax reform proposal almost entirely along party lines, which being viewed as a key victory for US President Donald Trump. Progress on the Republican tax plan was in the spotlight, while investors continued to watch for news of the special counsel's probe of US President Donald Trump's election campaign. Meanwhile, according to new Fed research, while inflation moved closer to the US central bank's 2 percent target in September and October following months of lackluster results, its increase reflected gains in goods and services that aren't necessarily linked to monetary policy. That means policy makers could still have a hard time reaching their target, which has remained elusive throughout much of the economic recovery.

On the economy front, US factory orders fell 0.1% in October largely because of fewer bookings for passenger planes, cars and trucks. The decline was concentrated in large aircraft and autos, two volatile categories that often distort the headline number. Orders excluding transportation climbed 0.8%. Orders had risen a revised 1.7% in September and 1.2% in August. Despite the small drop in October, US manufacturers are growing rapidly. Orders are up 5.6% through the first 10 months of 2017 compared to the same period a year earlier. Factory shipments, meanwhile, rose 0.4% to mark the fifth gain in six months.

The Nasdaq dropped 72.22 points or 1.05 percent to 6,775.37, the S&P 500 edged lower by 2.78 points or 0.11 percent to 2,639.44, while the Dow Jones Industrial Average added 58.46 points or 0.24 percent to 24,290.05.




Related News

View all news

Asian markets trade mostly in green in early deals

Asian markets are trading mostly in the green in early deals on Wednesday, with sentiments boosted by Wall Street's rise and a record intraday high for the S&P 500 index on Tuesday, but fragile......

Asian markets trade mostly in green in early deals

Asian markets are trading mostly in the green in early deals on Wednesday, with sentiments boosted by Wall Street's rise and a record intraday high for the S&P 500 index on Tuesday, but fragile......

US markets close higher on Tuesday

The US markets ended higher on Tuesday, registering a fourth straight gain on the back of optimism over US-China trade talks, even though President Donald Trump said he does not expect much progress from......

Top News

View all news

Uday Jewellery commences manufacturing activities at Hyderabad unit

Uday Jewellery Industries has commenced the manufacturing activities in premises situated at Hyderabad taken on lease for enhancement of its manufacturing capabilities for manufacture of specialty jewellery......

Strides Shasun's arm receives acceptance from USFDA for two key ANDAs

Strides Shasun's step-down wholly owned subsidiary, Strides Pharma Global, Singapore has received Abbreviated New Drug Application (ANDA) “acceptable for filing” correspondence from the United States Food......

IDBI Bank sells 3.90% stake in NSDL

IDBI Bank has sold 15,60,000 equity shares constituting 3.90% of the paid up capital of National Securities Depository (NSDL) on August 21, 2018.IDBI Bank is the youngest, new generation public sector......