News Column

US Stocks open lower on Wall Street, led by banks

June 26, 2014

NEW YORK, Sha'ban 28, 1435, Jun 26, 2014, SPA -- US Stocks are opening lower on Wall Street as traders were unimpressed by the latest positive sign on the job market.

According to AP, City, Sha'ban 28, 1435, Jun 26, 2014, SPAhe Dow Jones industrial average fell 117 points, or 0.7 percent, to 16,748 in the first few minutes of trading Thursday.

The Standard & Poor's 500 index fell 14 points, or 0.8 percent, to 1,945 and the Nasdaq composite fell 30 points, or 0.7 percent, to 4,349.

The drop was slight but wide. All 10 sectors of the S&P 500 were lower, led by bank stocks.

The government said that the number of Americans seeking unemployment benefits declined last week, the latest evidence that an economic slowdown earlier this year hasn't caused employers to shed workers.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.53 percent.


18:38 LOCAL TIME 15:38 GMT

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Source: Saudi Press Agency (Saudi Arabia)

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