U.S. stocks drifted lower after a gauge of manufacturing activity pointed to a slowdown in growth this month. In economic news, oil struggled to climb after four straight days of trading higher. A report indicated that Saudi Arabia is ready to cut production to stabilize prices, only if Iran agrees to an output freeze. Oil closed down $1.73 a barrel. In corporate news, Twitter shares surged on a report that Salesforce is considering acquiring the social media company. In bond market news, U.S. bond prices finished the week mixed with short term bonds closing up and long term bonds closing down. The Dow Jones Industrial Average rose 138 points or less than 1% for the week.
The best-performing sector was: Telecom
While the worst-performing sector was: Energy
The Dow Jones Industrial Average* was down 131.01 at 18,261.45
The Standard & Poor's 500 Index was down 12.49 at 2,164.69
The NASDAQ Composite Index was down 33.78 at 5,305.75
Volume on the New York Stock Exchange was moderate, with 826.47 million shares traded. Decliners outnumbered advancers by roughly a 3-to-1 margin.
The spot price of gold rose $0.49 to $1,337.57
The spot price of silver fell $0.20 to $19.67
And crude oil prices fell $1.73 to $44.59
The 30-year Treasury yield closed at 2.34%
And the 10-year Treasury yield finished at 1.62%
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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