Wall Street ends the week on a low note

Economies.com
2018-05-25 20:47PM UTC

US stock indices closed the last session of the week mixed, with Dow Jones, Standard and Poor's 500 dragged lower by the energy sector after sharp declines in oil prices as OPEC and allies consider 1 million bpd of production increases, while the tech sector buoyed NASDAQ. 

 

Earlier US data showed durable goods orders fell 1.7% in April, compared to a 2.7% rise in March, and missing expectations of a 1.3% drop, while core orders accelerated to 0.9% from 0.1%, beating forecasts of 0.5%. 

 

University of Michigan's final reading for the consumer sentiment survey came at 98.8 in May, same as the preliminary and the April reading and in line with forecasts. 

 

Dow Jones fell 0.24%, or 58.67 points to 24,753.09, while Standard and Poor's 500 shed 0.24%, or 6.43 points to 2,721.33. NASDAQ Composite rose 0.13%, or 9.42 points to 7,433.85. 

 

How Commodities Fared 

 

Gold futures due on August 15 fell 0.31% to $1,305.70 an ounce from the opening of $1,309.80, while the dollar index powered up 0.46% to 94.20 from the opening of 93.77, marking 2018 highs. 

 

US crude futures due on July 15 fell 4.43% to $67.58 a barrel from the opening of $70.71, while Brent futures due on July 15 slid 2.50% to $76.29 a barrel from the opening of $78.79. 

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