U.S. stocks dropped today as the Dow Jones Industrial Average extended its losses for a fifth session as investors remained cautious a day before Donald Trump's presidential inauguration. In economic news, jobless claims dropped 15,000 to 234,000, which is better than the 245,000 claims economists expected. In other economic news, housing starts rose 11.3% in December, capping the best year since 2007. In corporate news, shares of Union Pacific jumped on news that slumping demand for the commodities it transports eased in the fourth quarter, helping the company post better-than-expected profit. In earnings news, IBM's revenue beat analyst estimates, and shares rose after hours. In bond market news, U.S. bond prices ticked down.
The best-performing sector was: Industrials
While the worst-performing sector was: Utilities
The Dow Jones Industrial Average* was down 72.32 at 19,732.40
The Standard & Poor's 500 Index was down 8.20 at 2,263.69
The NASDAQ Composite Index was down 15.57 at 5,540.08
Volume on the New York Stock Exchange was moderate, with 755.21 million shares traded. Decliners outnumbered advancers by roughly a 3-to-1 margin.
The spot price of gold rose $0.48 to $1,204.63
The spot price of silver fell $0.05 to $17.01
And crude oil prices rose $0.33 to $51.41
The 30-year Treasury yield closed at 3.04%
And the 10-year Treasury yield finished at 2.47%
The Dow Jones Indexes are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones Indexes © 2015 is proprietary to Dow Jones & Company, Inc.
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