U.S. stocks decline due to low consumer confidence

U.S. Stocks End Modestly Lower

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  • U.S. stocks ended lower today due to weak economic data, index of consumer confidence fell to 78.1 in February from a revised 79.4 in January.
  • Stocks extended loss after data showed the housing sector slowing down because house prices began to slowly trend downward. As home values start to decline many investors are claiming the housing boom might be over.
  • Gold futures rose 0.4% to $1,343 an ounce, a four-month high, while crude-oil futures fell 1% to $101.83 a barrel.
  • The Dow Jones Industrial Average closed off 0.17% to 16,179.66, while the S&P 500 lost 0.13% to 1,845.12. The Nasdaq dropped 0.13 to 4,287.59.

Categories: Equity Capital Markets

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