U.S. stock indices end largely lower

Economies.com
2016-10-21 20:36PM UTC

U.S. stock indices closed mixed amid a lack of data from the world's largest economy and after the dollar surged to an eight-month high, as traders expect the Federal Reserve to tighten policy soon, and amid mixed earnings results for the third quarter from American companies, with energy and health care companies specially weighing on Dow Jones and Standard and Poor's 500, while Microsoft led NASDAQ to a record high. 

 

Additionally, the Federal Reserve released the Beige Book yesterday, important because of its release two weeks before the FOMC meeting in November 1-2, and which the bank depends upon when taking its policies and directions for the world's largest economy, expected to have grown 2.5% in the third quarter of this year, with the data awaited later next week. 

 

Dow Jones closed down 0.09%, or 16.64 points to 18,145.71, while Standard and Poor's 500 shed 0.01%, or 0.18 points to 2,141.16. NASDAQ Composite rose 0.30%, or 15.57 points to 5,257.40. 

 

The dollar index, tracking the greenback's performance versus an array of six major counterparts, rose to 98.63 from the opening of 98.32, with an intraday low at 98.30, and the highest since February at 98.81. 

 

On another note, gold futures due on December 16 fell 0.01% to $1,267.40 an ounce from the opening of $1,267.50, while U.S. crude futures due on December 1 rose 0.59%, or $50.93 a barrel from the opening of $50.63. Brent crude futures due on December 16 added 0.86% to $51.82 a barrel from the opening of $51.38. 

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