City
Epaper

U.S. stocks close lower amid downbeat data

By IANS | Published: September 27, 2019 5:52 AM

US stocks ended lower, as Wall Street digested a batch of tepid data, including the lackluster US GDP growth for the second quarter (Q2), and a fresh whistleblower complaint against US President Donald Trump.

Open in App

The Dow Jones Industrial Average fell 79.59 points, or 0.30 per cent, to 26,891.12. The S&P 500 decreased 7.25 points, or 0.24 per cent, to 2,977.62. The Nasdaq Composite Index was down 46.72 points, or 0.58 per cent, to 8,030.66, Xinhua news agency reported on Thursday.

Six of the 11 primary S&P 500 sectors traded lower around market close, with the energy sector down 1.24 per cent, leading the losers.

On the economic front, US initial jobless claims increased 3,000 to 213,000 in the week ending September 21 on a weekly basis, the Labor Department said Thursday.

The 4-week moving average reached 212,000, a decrease of 750 from the previous week's revised average.

US real gross domestic product (GDP) rose at an annual rate of 2 per cent in Q2, according to the third estimate released by the Bureau of Economic Analysis on Thursday.

The growth came sharply down from the 3.1 per cent pace in the first quarter, amid downward revisions to imports, a subtraction in the calculation of GDP, personal consumption expenditures (PCE) and nonresidential fixed investment.

Yet upward revisions to state and local government spending and exports helped offset those downward revisions.

US congressional panel on Thursday released a declassified version of a whistleblower complaint about President Donald Trump's interactions with his Ukrainian counterpart Volodymyr Zelensky.

( With inputs from IANS )

Tags: usDonald TrumpVolodymyr ZelenskyNasdaq Composite IndexXinhua
Open in App

Related Stories

InternationalUS: 12-Year-Old Boy Receives World's First Commercially Approved Gene Therapy for Sickle Cell Disease

Social ViralTornado in US: Dashcam Records Terrifying Video of Cyclonic Storm Devastating Warehouse in Nebraska

InternationalDog Attack in US: Police Officer Shoots at Pack of Pit Bulls as They Maul Man in Philadelphia; Disturbing Video Goes Viral

National‘Unwarranted, Unsubstantiated Claims’: India on the Washington Post Report Identifying RAW Official in Pannun Assassination Case

InternationalUS Shooting: Three Police Officers Shot Dead in Charlotte, North Carolina

कारोबार Realted Stories

BusinessIndia will be country of honour at Choose France Summit hosted by French President

BusinessCCI approves acquisition of additional shares in Sikkim Urja Limited by Greenko Energies Private Limited

BusinessGoogle launches Pixel 8a with industry-first AI features in India

BusinessProfit of IGL surged by 16% in Q4 FY24

BusinessEPFO evaluating course of action over HC ruling on foreign workers