Wall Street wraps up a miserable September, with the S&P 500 logging its worst month of the year.
- The S&P slipped 11 points Friday, or 0.2%, to 4,288, and lost about 5% for the month, according to CNBC.
- The Dow fell 158 points, or 0.4%, to 33,507, and lost more than 3% in September.
- The Nasdaq gained 18 points, or 0.1%, to 13,219. The tech-heavy index lost more than 5% in the month.
On Friday, stocks started strong but faded as pressure built within the bond market. Treasury yields rose later in the day, and fears of a government shutdown added to the concerns. Notable market news includes Nike’s 7.2% jump after reporting better-than-expected profits for the latest quarter. Blue Apron also saw a remarkable 134.1% surge after being bought by Wonder Group for $13 per share in cash, a deal worth $103 million.
Energy stocks suffered with a 1.9% drop among those in the S&P 500, making it the worst-performing sector. Although oil prices slid, energy stocks have remained strong performers since the summer. Exxon Mobil fell 1.8%, and Schlumberger dropped 3.7%. Additionally, shares of Ford and General Motors declined after the United Auto Workers announced an expansion of their limited strike. Ford fell 1.1%, and GM was 0.3% lower.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
